Glencar is demolishing an old office building that was previously owned by pharmaceutical company Eli Lilly, while also undertaking site clearance and enabling works.
Steelwork is expected to begin by the end of May.
The £17m warehouse, which will be named G-Park Basingstoke, is being forward-funded by Singapore-headquartered property group GLP, via Bridges Fund Management and Wrenbridge Land.
The developers are targeting an EPC A+ and BREEAM ‘excellent’ rating, together with a ‘net zero target build’. It is expected to be available for occupation by March 2024.
The site, on Priestley Road, is part of the established Houndmills Industrial Area, which is already home to business including Sainsburys, Royal Mail, XPO Logistics, Leverton Clarke and Game.
It is Glencar’s second project for Wrenbridge, which Glencar regional managing director Roy Jones described as a “longstanding and highly valued customer”.
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