Chancerygate announces £160m of speculative development across nine sites to deliver 975,000 sq ft of urban logistics space

Industrial developer and asset manager Chancerygate has announced it has committed to starting the development of nine sites.

Ranging from Bournemouth to Warrington, the sites will have a combined gross development value of £160m and deliver close to 975,000 sq ft of Grade A industrial and warehousing accommodation.

The schemes form part of Chancerygate’s three million sq ft of pipeline across 23 sites which stretch from Havant to Edinburgh.

Chancerygate managing director, Richard Bains, said: “We are delighted to be in a position to commence construction on these urban logistics sites, maintaining the high level of momentum we achieved over the course of 2020.

“Getting these schemes to this position has been a great team effort and my thanks go to both everyone in the Chancerygate team and our external consultants.

“There is strong demand for our Grade A product throughout the UK from both occupiers and investors. These schemes will provide new build multi-let accommodation in areas where there has been very little new supply delivered for a long period of time.

“Demand for the schemes is strong and they have attracted a great deal of interest from potential occupiers even before construction has started. We look forward to announcing occupational transactions in the near future.”

In addition to Bournemouth and Warrington, the other seven developments are located in Birmingham, Cheltenham, Chesham, Harlow, Norwich, Sidcup and Tonbridge.

Founded in 1995, Chancerygate also manages in excess of £255m of assets across more than five million sq ft of commercial space in more than 390 units. The company has offices in London, Warrington, Birmingham and Milton Keynes.