PLANS to re-home one of Basingstoke’s major employers is a step closer after plans were approved by the borough council.

International pharmaceutical company Eli Lilly will move its employees into a new 45,000 sq ft headquarters in Basing View after planning permission for the new development was granted last month by Basingstoke and Deane Borough Council .

The borough council will be financing the construction costs through its Invest to Grow fund.

The new office building will be built as part of the council’s regeneration partnership of Basing View with Muse Developments, with construction work expected to start in November.

Borough council cabinet member for property and development Councillor John Izett said: “Securing planning permission is an important step in delivering on the agreement to build Lilly’s new UK HQ in Basingstoke.

“It is a further message that Basingstoke is open for business and an invitation to other major international companies to look at what Basingstoke now offers as an increasingly attractive business location.

“The significant annual rent that the council will receive as owner of the new building will help to ensure that this council can continue to afford and deliver first class services to our residents.”

This is the first project to be supported by the Invest to Grow Fund, set up by the the borough council in 2016 by using £25 million of cash reserves to finance new development in the borough in a bid to generate higher returns.

Corinna Peachey, senior director corporate affairs at Eli Lilly said: “We’re delighted to hear that planning permission has now been granted for the new Basing View development; it’s a key milestone for the development and an important step closer to being able to open our new offices in the heart of the town.”

In addition to help with the construction of the new Eli Lilly building Muse Developments has also been granted outline planning permission for a new 40,000 sq ft office development at Loddon Parade.

Regional director at Muse Developments, Michael Auger, said: “Securing planning approval from Basingstoke and Deane Borough Council is great news and means we can progress towards delivery of the new building for Eli Lilly.

“To also receive word that outline planning has been granted on a further office building highlights the council’s commitment to creating a vibrant new business district for the town, bringing inward investment, while creating a number of employment opportunities for the community.

“In the coming weeks we’re intending on submitting a reserved matters planning application to secure detailed permission for the second building.”