A joint venture (JV) between Chancerygate and global real estate investor, developer and manager Hines has secured planning for a 133,500 sq ft Grade A urban logistics development in Redditch.
The scheme, which is called Aurora Park and will deliver nine leasehold units ranging from 7,685 sq ft to 22,055 sq ft, has a gross development value of around £35m. Work is scheduled to start on site in summer 2026 and is expected to be completed in the third quarter of 2027.
Located on a 6.4-acre site on North Moons Moat industrial estate, Aurora Park is three miles from Redditch town centre, three miles from junction 3 of the M42 and 15 miles from Birmingham city centre.
Aurora Park’s units will be constructed using high-performance building materials to reduce CO2 emissions, with the development targeting EPC A and BREEAM Excellent ratings.
All units will have dedicated yards and car parking and fully fitted first floor offices. In addition, there will be air source heat pumps for heating and cooling, electric vehicle charging points and photovoltaic roof panels which will provide occupiers with affordable green energy.
Existing nearby businesses include Amazon, iForce, Lear Corporation and AMCO, alongside a broad mix of regional and local businesses.
The joint venture is funded by Hines European Real Estate Partners III (HEREP), which has more than £1.3bn of equity commitments.
Chancerygate development manager, Rob Watts, who is based in the company’s Birmingham office, said: “We can now move forward with Aurora Park in a market where demand for sustainable Grade A urban logistics space is particularly strong.
“There is a clear requirement across Worcestershire and the wider West Midlands for strategically-located accommodation that meets the needs of a broad range of occupiers.
“Aurora Park will provide high-specification units in an established commercial location with excellent connectivity.”
Ross Blair, senior managing director at Hines, added: “Our partnership with Chancerygate is approaching its eighth year and during this time we have developed numerous urban servicing facilities in key regional locations across the UK, delivering over one million sq ft of workspace across eight schemes and we are actively looking to grow our pipeline this year.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and investment manager and the only one operating nationwide.
In the UK, Chancerygate currently has around 2.2m sq ft of urban logistics space under construction or ready for development across 15 sites ranging from Leeds to Croydon.
The company also manages more than £700m of investment assets in the UK and Europe and its investment portfolio comprises more than 540 units totalling around 4.7m sq ft of commercial space.
In addition to Birmingham, Chancerygate has offices in London and Warrington. The business is dedicated to creating high-quality, sustainable spaces and is expanding throughout Europe with offices established in Dublin, Madrid, Lisbon and Berlin to further enable its growth plans.
Joint agents for Aurora Park are M1 Agency and John Truslove & Co.
