Chancerygate has achieved practical completion on six new Grade A urban logistics developments totalling 687,000 sq ft which have a combined gross development value (GDV) of £115m.
The schemes are located in Knutsford and Congleton in Cheshire; Wigston, near Leicester; Brackley, South Northants; Witham, Essex; and Bournemouth.
Novus in Knutsford is a development with 207,000 sq ft of Grade A urban logistics space. Chancerygate completed phase two of the scheme which features nine units totalling 73,000 sq ft, including a bespoke design and build warehouse facility sold to Vida Living. Three other units were pre-let ahead of practical completion to trade retailer Screwfix and drilling tool distributor Alpen UK.
The first phase of Novus was successfully completed in April 2021 which delivered 134,000 sq ft of urban logistics and industrial space. Occupiers on this phase include car dealership business Sytner Group, valve manufacturer Oliver Valves and French laundry business Elis.
With 60 per cent of units pre-let, Norse Trade Park in Congleton comprises ten units totalling 45,000 sq ft and has direct access to the new £90m Congleton Link Road. Occupiers include trade kitchen supplier Howdens and painting and decorating supplier PaintWell.
Genesis Park in Wigston, an established industrial location five miles south of Leicester, provides 128,000 sq ft of urban logistics accommodation. The scheme comprises 15 units available on a leasehold basis and benefits from close proximity to the M1 and M69 motorways.
Situated at the Buckingham Road Industrial estate, Boundary43 is a 55,000 sq ft urban logistics scheme in Brackley, South Northants. The development comprises 14 units available on both leasehold and freehold basis.
The 59,000 sq ft Freebournes Park in Witham, Essex, comprises 10 warehouse and industrial units available on a freehold and leasehold basis. The development is located on the established Freebournes Road Industrial Estate.
Developed as a joint venture between Chancerygate and global real estate investor Hines, Bedrock Park comprises 16 units totalling 193,000 sq ft. The scheme was forward sold to Northwood Urban Logistics during the construction phase.
Chancerygate managing director, Richard Bains, said: “Achieving practical completion across these six schemes is a fantastic achievement in what has been a challenging year for construction projects and it solidifies Chancerygate’s position as a leading developer of Grade A urban logistics schemes across the country.
“All of the developments are in prime strategic locations and will help satisfy the strong demand for high specification, sustainable accommodation within their local and regional markets.
“We currently have more than 2.65m sq ft of urban logistics space under construction or ready for development across 19 sites ranging from Edinburgh to Chichester. In addition, we are actively looking for further development opportunities throughout the UK as we continue to implement our strategic growth plans.”
Units at all six sites are constructed from high-performance building materials to reduce CO2 emissions and feature electric vehicle charging points. All properties have targeted a minimum EPC rating of B.
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide. The company has offices in London, Birmingham, Bristol, Warrington and Milton Keynes.
