Industrial property developer Newlands Developments is seeking outline planning permission for a circa 3 million sq ft logistics park near Basingstoke, Hampshire.
The 2,917,019 sq ft scheme is proposed on a 111-acre site at Oakdown Farm, Winchester Road, Basingstoke, adjacent to Junction 7 of the M3, which is controlled by the developer.
An Environmental Impact Assessment Scoping report has been presented to Basingstoke Council by Avison Young.
In 2019 Newlands agreed a partnership with South African REIT Equites Property Fund to fund the cost of promoting land through the planning process, completing land acquisitions and implementing infrastructure works.
The company has a property portfolio specialising in prime logistics across the UK and South Africa. It has assets of over £800 million of which approximately £300 million is invested in the UK.
The new partnership vehicle with Newlands is intended to drive the UK portfolio of Equites Property Fund to in excess of £1 billion providing Newlands with the capital base to secure new opportunities and grow significantly over the years ahead.