Chancerygate has acquired two adjacent sites totaling 4.6 acres in Leatherhead, Surrey, to speculatively build 82,400ft² of Grade A industrial and warehousing space. The sites are located off Cleeve Road in Leatherhead Business Park approximately one mile north of the town centre and one mile east of junction 9 of the M25. Chancerygate intends to develop 13 leasehold units ranging from 3,000ft² to 19,000ft² on the land. Once complete, the scheme will have a gross development value of around €37.4m (£32m). The company first acquired a 3.6-acre site from a private family investor then an adjacent one-acre site from an international corporation. Both sites currently comprise office and warehouse accommodation which will be demolished for the new development. All values relating to the acquisitions are undisclosed.
Commenting on the acquisition, Chancerygate head of development Alastair King, said: “We’re very pleased to have secured this opportunity to develop in a prime industrial area of the South M25 quadrant. Leatherhead’s proximity to excellent transport connections and an affluent, skilled workforce has resulted in a thriving business community, including an array of established, blue-chip multi-national companies. Our proposed development of high specification, sustainable industrial accommodation will complement the local and regional economy and stimulate further investment and job creation.”
Chancerygate will submit its plans for the development to Mole Valley District Council towards the end of the year.
