A GRADE II listed building that is one of the most iconic in Basingstoke is set to be transformed into a ‘green workspace’, it has been revealed.

Mountbatten House in Basing View, known as the ‘hanging gardens of Basingstoke’, will be transformed into one of the greenest workspaces in the south east.

The property is set to be rebranded under the name of ‘Plant’ in tribute to the garden terraces and wider sustainability features.

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This is according to Puma Property Finance which provided a £33m development finance facility to a joint venture of Longstock Capital and Mactaggart Family & Partners.

The joint venture is redeveloping the remarkable building into a sustainable and cutting-edge workspace with a wellness offering and extensive amenities.

Basingstoke and Deane Borough Council’s deputy leader Councillor John Izett said: “It is fantastic news that one of Basingstoke's most recognisable buildings is to be reborn.

"The deal agreed with the new owners means substantial new investment into creating 21st Century offices that will be just what today's businesses are looking for.

"In time it will also bring jobs and business rates for the council to direct towards services for our residents."

The project is being led by Longstock Capital and Mactaggart Family & Partners, with works starting earlier this month.  

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The six-story development was originally occupied by the paper manufacturers, Wiggins Teape, and comprises 150,000 sq. ft. including several unique features, most notably a series of cascading roof terraces designed by renowned horticulturalist James Russell.

Mountbatten House, previously known as Gateway House, was developed by Arup Associates between 1974 and 1976 for Wiggins Teape to become its new UK headquarters.

The building was awarded listed status in 2015 on the grounds of its rarity in being an interesting and innovative late-1970s example of a commercial office landscaping.

Puma Property Finance senior manager Rahul Malde said: “We are delighted to support this commercial office development with a strong focus on sustainability, and to be working alongside experienced counterparties in Longstock Capital and Mactaggart Family & Partners to bring this truly exciting project to life." 

Longstock Capital’s partner Hugo Denee said: “We look forward to delivering the refurbishment of this iconic building together with William Laxton and the team at Mactaggart Family & Partners.

“Agreeing a virtual freehold with Basingstoke council and signing the debt facility with Puma paves the way for construction to start. While completion is earmarked for Q1 2024, the combination of the strong environmental credentials with best-in-class design has already sparked robust interest."

As part of this project, Addleshaw Goddard acted for the borrower, Fieldfisher acted for the lender and CMS acted for Basingstoke and Deane Borough Council. Savills and Hollis Hockley have been appointed as joint-leasing agents.