Chancerygate has acquired a two-acre site in Old Trafford, Manchester, to speculatively develop 53,000 sq ft of Grade A sustainable urban logistics space with a gross development value of around £15m.
Called UrbanX, the scheme will comprise two leasehold units, one offering 30,200 sq ft and the other 22,800 sq ft, which will both target EPC A+ and BREEAM Excellent ratings. Plans are due to be submitted in July.
Located less than one mile from Manchester city centre, the site is adjacent to the Bridgewater Way arterial route and the established Trafford Park and Salford Quays areas.
Chancerygate development director, Chris Brown, who is based in the company’s Warrington office, said: “Our proposed UrbanX development will provide occupiers with an unrivalled strategic location within Manchester.
“We believe our proposals will create the platform for urban logistics occupiers to better service the ever increasing city centre population more efficiently.
“It will also further showcase the high specification, sustainable accommodation we consistently deliver throughout the North West as we continue to expand our development footprint in the region.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and investment asset manager and the only one operating nationwide.
The company currently has around 1.41m sq ft of urban logistics space under construction or ready for development across 11 sites ranging from Edinburgh to Croydon.
The Old Trafford site was acquired from real estate investors Landmark Group for an undisclosed sum. Property consultancies Christopher Dee and BC Real Estate advised Chancerygate on the transaction whilst Mason Partners acted for Landmark Group.
Agents for the development are BC Real Estate and Savills.
