One of Basingstoke’s most important employers has given the town a ‘massive vote of confidence’.
A deal was approved last week that will see pharmaceutical firm Eli Lilly & Co set up its UK headquarters in Basing View.
The company will operate from a new purpose-designed Grade A office building as part of the ongoing multi-million pound council-led regeneration of the central business district.
Cabinet member for property and development at Basingstoke & Deane Borough Council Cllr John Izett said after the meeting: “We are delighted that Lilly is not only remaining in Basingstoke but will be moving its headquarters into Basing View – it’s a massive vote of confidence in Basingstoke and what we have to offer to international companies as a great location.”
The new 45,000 sq ft office building, a result of the council’s partnership with national developer Muse Developments, will be owned by the borough council once completed, bringing in additional rent to help fund council services.
Cllr Izett added: “The proposed transaction [will enable] the council to generate the higher returns it needs to support services for our residents.”
Under the proposed deal, Lilly’s out-of-town Priestley Road Campus, which no longer meets the needs of the international pharmaceutical company, would be freed up for brownfield regeneration.
The council plans to sell the site to Lilly for redevelopment once the company has moved into its new offices in Basing View in approximately two years’ time.
Rebecca Morison, vice-president and general manager at Lilly UK and Northern Europe, said: “I’m delighted that plans for Lilly’s move to a modern, purpose-built office at Basing View have been approved by the council.
“Lilly has a long-term commitment to the Basingstoke area, where we have been based since the 1940s.”
John Robinson, development director at Muse Developments, said: “This is a very positive development for Basing View and is a testament to its ideal location.”