FUNDS have been made available to prepare the site which will house a new 153-bedroom business-class hotel in Basingstoke.

A £7.5 million investment boost from the Enterprise M3 Local Enterprise Partnership (LEP) has been given to Basingstoke and Deane Borough Council to help with the delivering the transformation of Basing View.

Part of the funding will drive the preparation works for the site sold to Village Hotels to enable construction for a new business-class hotel.

LEP has made the funds available to the borough council as almost half of Basing View has been designated as an Enterprise Zone.

Chair of EZ3 Programme Steering Group and Enterprise M3 board member Nick Elphick said: “This investment in Basing View is part of a package to enable the acceleration of developments to attract businesses to the EZ3 Enterprise Zone.

“Businesses need an environment where they can grow and prosper, and we are excited by what Basing View will be able to offer them.”

This major funding will be used immediately to fund the essential work needed before development of various sites can start including the Village Hotels site, which will bring with it 185 construction jobs and 100 permanent jobs.

The strategic site has never been able to be developed since the inception of Basing View. The funding will also kick-start the development of new Grade A office buildings on the site adjacent to the new Florence Building.

Cabinet member for property and development at the borough council, Cllr John Izett, said: “I am delighted that our LEP partners are recognising the opportunities that are deliverable at Basing View by agreeing to support new investment with a sizeable grant of £7.5m.

“We will put this to good use in bringing forward the proposed new hotel and office developments that will provide new amenities to the people working at Basing View and better, more modern space for them to work from.”