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British development and regeneration specialist Muse Developments has entered into two development agreements with Basingstoke and Deane Borough Council for the £200 million ($320.78 million) project, which will transform the region into a 21st Century regional business destination.

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Ideally positioned for occupiers, the Basing View regeneration scheme will measure 650,000 square feet of new commercial led development over 15 acres, which will promote and stimulate new investment in the area.

Upon completion, it will feature a mix of new office space, a business class hotel and other supporting facilities.

In order to facilitate new construction, obsolete buildings on site have been acquired and demolished. Upon completion, the scheme will provide a high-quality environment and estate identity expected of an urban business park of this scale and ambition.

The regeneration work on site is expected to commence in mid-2013.