Chancerygate has bought a site in Minworth, Sutton Coldfield, for €2.8m (£2.6m) to speculatively develop a new 12-unit scheme, as the company’s Midlands expansion continues. Located within Minworth Industrial Estate, the 3.1-acre site currently houses a 69,000ft² industrial building occupied by a construction materials manufacturer. Tenants in the wider estate include Screwfix, Travis Perkins and logistics company Kuehne + Nagel.
The company will seek planning for a 72,000ft² light industrial and warehousing scheme, with units ranging in size from 3,270ft² to 12,700ft². All units will be available on a freehold basis to owner-occupiers, as part of Chancerygate’s strategy to become the developer of choice for freehold industrial space across the Midlands market.
Commenting on the Minworth site purchase, Chancerygate’s Mark Garrity said: “We opened our Birmingham office this year as part of our strategy to capitalise on development opportunities in the West and East Midlands. This approach is working well and we now have a strong pipeline in the region. We are making good progress in meeting our ambition of being the leading developer of multi-let industrial space in the Midlands. We look forward to further expanding our operations throughout the region.”