THE owners of Chineham Park have completed what they describe as the biggest commercial deal in Hampshire for 10 years.

Oaktree Capital Management and Patrizia UK which owns the business park in Basingstoke, have completed a sequence of interlinked transactions, to five occupiers, including three Fortune 500 companies, on space that totals 162,000 sq ft.

Existing occupier, Level 3 Communications, is relocating to the Redwood 3 building in the heart of the park where it has taken 43,000 sq ft over two floors.

The global communications provider will occupy the space on a 15 year lease.

Within the same building, Motorola Mobility has signed a new 22,500 sq ft lease.

Level 3 Communications’ move from the Chineham Gate and Ashwood buildings has enabled another existing tenant, Exertis, to double the amount of space it occupies at Chineham Park.

The growing technology distribution and specialist service provider will move into 43,000 sq ft Ashwood.

Level 3 Communications has also agreed a reversionary lease on its 40,000 sq ft data centre at Oakwood, extending its commitment to December 2029.

At the Central 40 building, medical technology and services company, Covidien, which was recently taken over by Medtronic in a £32billion acquisition, has leased 7,000 sq ft.

The last of the recent deals has been agreed with Abacus Insurance, which has signed up to lease the 6,500 sq ft 100 Cedarwood office building in its entirety. Rupert Batho, managing director of Chineham Park said: “Securing and retaining such a variety of high profile tenants at Chineham Park is testament to the wide ranging appeal of the park. “Our ongoing improvements to the park mean that we can continue to accommodate the changing business needs of both existing and new occupiers.”

He said as part of Oaktree and Patrizia’s continued investment plan for the park, work will begin in September on the comprehensive refurbishment of Chineham Gate and Elmwood One which will deliver further Grade A space of 45,000 sq ft and 18,000 sq ft respectively.

Oaktree and Patrizia acquired the 95 acre business park in October 2014 as part of an MEPC portfolio which also included Birchwood Park in Warrington and Hillingdon Park in Glasgow.