Chancerygate has acquired more than seven acres of development land at sites in Chertsey, Harlow and Cheltenham. The sites will be developed to create 181,000ft² of new warehouse and industrial space. The purchase price was not disclosed.
In Chertsey, the company has bought an existing development of five industrial warehouses on Hanworth Lane. These will be replaced by 62,000ft² of space in 12 units ranging in size from 3,950 to 7,535ft². JLL advised Chancerygate on the acquisition.
At Harlow Business Park, Chancerygate will be developing a 27,000ft² scheme in five units which will be available on a freehold basis. This acquisition follows the success of Chancerygate’s 97,000ft² East Place scheme which is 40% pre-let. DWW advised Chancerygate on the acquisition.
The company has also bought a site on Cleeve Business Park to the north of Cheltenham where planning will be submitted for a 92,000ft² scheme in nine units ranging from 4,500-23,500ft². Colliers International advised Chancerygate on the acquisition.
Alastair King, Head of Development at Chancerygate said: “These sites are all in locations where there is sustained demand for contemporary warehouse and industrial space. Their acquisition adds further to our development pipeline and is in line with our strategy to purchase sites in undersupplied locations and develop high-spec industrial space aligned to occupier specifications and needs.”
