THE AA has dismissed reports that it is set to quit its iconic Basingstoke base as “speculation”.

The Automobile Association last November celebrated 40 years in Fanum House, in Basing View.

But today, Property Week is reporting that the businesses is set to quit its long-standing home and could move out of Basingstoke altogether.

Gavin Hill-Smith, press officer at the AA, said: “This article is speculation. The fact is that the AA constantly reviews its entire property portfolio across the UK to accommodate an evolving organisation.”

The Gazette has asked for more information from the company, and is now waiting for a response.

Fanum House is one of the most iconic buildings in Basingstoke.

The 18-storey tower block stands at 274ft and is the second-tallest building in the town. When it opened it was said to be the tallest built between London and New York, and The Queen officially opened the block.

The speculation about the move from Basingstoke comes after a difficult year for the AA.

In March, GMB members held a rally outside the company’s offices, calling for a substantial, real terms pay increase.

In August, chief executive Chris Jansen resigned and a drop in pre-tax profits was reported by the company in September.

Borough councillor Paul Harvey described the AA as a “crucial” employer for the town. More than 800 people work at the Basingstoke site.

Cllr Harvey said: “If this (speculation) is the case, I understand they are looking for smaller offices.

"It is of paramount importance that such a crucial employer in our town is helped in every way we can to stay in Basingstoke and it would be good to see them remain in Basing View.

“The AA has a long history with Basingstoke, and we need to value that by helping them find a new home, if that is what they need, that meets their requirements.

“I will be looking to the council and our business partnerships to work with the AA to do everything they can.”