Chancerygate has purchased 5.4 acres on Edgington Way in Sidcup from Tesco plc for a 13-unit, 120,500ft² warehousing development. The purchase price was not disclosed. This latest acquisition brings the total of development land that Chancerygate has acquired in 2018 to more than 32 acres. It currently has 580,000ft² of industrial space under construction across 7 schemes with a further 1.7 million ft² being brought forward.
Jonathan Lee, Development Director for Chancerygate commented: “This scheme follows our redevelopment of the former Klinger Factory site in Sidcup where we presold 130,000ft² of space last year. We are delighted to have worked with Tesco again following our recent acquisition from them in Harlow and look forward to progressing this new project which will provide high-quality space for the wide range of occupiers that are seeking space in this strategic location.”