Chancerygate has bought two sites in Bristol and Harlow for a combined GDV of £20m to take the company’s total pipeline to more than 2.2m sq ft.
At Vertex Park, Emersons Green near Bristol, the company has purchased 4.8 acres and is planning an 110,000 sq ft multi-unit scheme. The proposed units would range in size from 4,300 sq ft to 34,000 sq ft, and would be available to lease or purchase.
Vertex Park - part of the Emersons Green Enterprise Area - is located to the east of Bristol, between the A4174 ring road and the M4 motorway and adjacent to Bristol and Bath Science Park. Completion of the project is scheduled for mid-2018. BNP Paribas RE and Alder King acted for the vendor and have been retained with Colliers International to market the development.
In Harlow, the company has bought a 4.5-acre development site on the East Road in the heart of the Templefields Industrial area. The site will be developed into 97,000 sq ft of industrial and warehousing space in seven units.
The units which will range from between 5,000 sq ft to 35,000 sq ft are being marketed for sale or lease. Strutt & Parker advised Chancerygate on the acquisition and have been retained with DWW to market the development.
Chancerygate’s head of development Tim Johnson said: “These acquisitions are a further expansion of our ability to provide product across premium locations in the UK. When complete, the projects will have a combined gross development value of more than £20m”.