Industrial property developer and asset manager Chancerygate has relocated to new premises in Birmingham city centre as the company continues to expand its operations throughout the Midlands.
Chancerygate has agreed a three-year lease for office accommodation at Cavendish House on Waterloo Street, in the heart of the city’s central business district. The business was previously located at Spaces in the Lewis Building on Bull Street.
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide.
The company opened its Birmingham office three years ago and has completed two developments with a further three currently under construction. The five developments will deliver a total of 545,000 sq ft of Grade A urban logistics, warehouse and industrial space and have a combined gross development value of more than £100m.
Mark Garrity, development director and head of Chancerygate’s Birmingham office, said: “We opened our office with an ambitious growth plan and have significantly exceeded our initial expectations.
“The industrial property sector is strong throughout the Midlands. We are delighted by the progress we have made in delivering speculatively built, Grade A warehouse and logistics space in strategic locations across the region. We are excited by the prospects of growing the business in the future.
“We now employ two project managers and two development managers. Our new offices provide exactly the positive working environment appropriate for our aspirations to be the leading industrial developer in the Midlands.”
Chancerygate has recently achieved practical completion on two developments in the Midlands. These comprise the 11-unit Forge Industrial Park development in Minworth, Sutton Coldfield, and the 19-unit Aston Gateway scheme, which is part of the latest phase of the Advanced Manufacturing Hub, in Aston.
Chancerygate is also developing a 31-unit scheme in Coventry in a joint venture with specialist investor Bridges Fund Management. Called Holbrook Business Park, phase one of the £69m development is currently under construction and is expected to achieve practical completion in June this year.
Chancerygate currently has more than 3.5m sq ft of industrial space under construction or ready for development across 32 sites ranging from Bournemouth to Edinburgh. In addition to Birmingham, the company also has offices in London, Warrington, Bristol, and Milton Keynes.