Baker Davidson Thomas report this morning on two Basingstoke companies soon to be on the move.

PRN Services, a pharmaceutical and clinical research company, are the latest tenant at Renaissance on Basing View, Basingstoke and they are set to expand from serviced offices at Grove House in Chineham into 3,360 sq ft (312 sq m) of brand new space at Renaissance. Matt Read, Managing Director at PRN added:

We looked long and hard at available space in the local market and concluded that the quality finishes and slick image presented by Renaissance, best suited our future needs. This was a prime consideration as we deal with major customers in the pharmaceutical and biotechnology industries.

A further sign of gathering momentum in the take up of office space in the Basingstoke market is the letting of Harrow House in Bessemer Road , off Cranbourne Lane.

Trane (UK) Ltd have agreed to lease the entire 11,000 sq ft (1,000 sq m) building, vacating space on Basing View in favour of the self contained out of town option with 70 car spaces. The terms of the deal remain undisclosed.

Trane are industry leading providers of integrated cooling and heating systems and services. They are an American owned global company, with offices and service operations worldwide.

With regards to the overall state of business space in Basingstoke, Richard Thomas of BDT commented:

There’s no doubt that the supply of offices in Basingstoke is gradually reducing, the Harrow House deal being a case in point. However, tenant incentives still remain relatively high, lease periods generally incorporate break clauses, and rents are not yet improving. All in all, it remains a little too early to be seriously considering the next phase of speculative office development, but confidence is returning, and the next cycle of development is at least on the horizon.