Tungsten Properties, a Leicestershire-based property developer, has announced securing development forward funding of £26m ($34.8m) from Leftfield to deliver Leftfield Park Basingstoke in UK.
The six-acre site on Crockford Lane is set to become a new urban logistics hub within Chineham Industrial Park, located five minutes from the M3’s junction six.
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The company has obtained planning permission to construct two industrial warehouses measuring 100,555ft² and 23,275ft², respectively.
These buildings are designed to be net-zero carbon ready and will aim for Building Research Establishment Environmental Assessment Method Excellent, an energy performance certificate ‘A’ rating, and a positive biodiversity net gain through on-site measures.
Features such as photovoltaics, air-source heat pumps, and 20% electric vehicle charging points, as well as 80% passive charging for car parking spaces will be included.
MCS Build, the contracting division of construction company MCSGroup, has been appointed to construct the buildings.
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By GlobalDataConstruction is scheduled to commence this month, with practical completion expected in January 2026.
The project is projected to create 110 construction jobs and 125 jobs in the occupation phase.
This development marks Tungsten Properties’ second investment deal with Leftfield, following the acquisition of the 246,000ft² Super W logistics unit at Appleton Thorn, Warrington, which was let to Farmfoods.
BNP Paribas Real Estate, serving as property advisor, represented Tungsten Properties while real estate services provider Savills acted on behalf of Leftfield.
Tungsten Properties development director David Mole said: “We are pleased to announce the commencement of development for these two high-quality mid-box warehouses for industrial and logistics occupiers.
“There is a strong demand in the area from businesses seeking well-located and modern best-in-class space. As this marks our second collaboration with Leftfield, we are excited to deliver a top-tier scheme for them.”
Leftfield CEO Nico Fourie said: “We continue to flesh out our Leftfield Fund III with quality warehouse assets. The geographic dispersion of properties in the fund is strategic and Basingstoke is a sought-after location for value accretion.
“Following our previous high-quality acquisition from Tungsten, they are a natural partner for further collaborations.”
In March 2024, Tungsten Properties commissioned McLaren Construction with a £41m contract for the development of Centurion Park, an industrial and logistics hub in Colchester, Essex.
