Chancerygate has acquired two multi-let industrial, urban logistics and trade counter assets for more than £75m.
Birch Business Park in Heywood, Greater Manchester, comprises 16 units providing 410,000 sq ft of multi-let industrial (MLI) and urban logistics space. The site, which was acquired from a private vendor, also has planning permission for an additional 90,000 sq ft industrial unit.
Chancerygate has also acquired Spa Trade Park (pictured) in Tunbridge Wells from Delancey. The park provides 77,000 sq ft of multi-let industrial and trade counter space.
Simon Cowley, head of investment management at Chancerygate, said: “Both Birch Business Park and Spa Trade Park represent excellent sites for serving occupiers in their respective localities thanks to their strategic positioning near key infrastructure routes. These acquisitions further demonstrate our intent to expand our presence in the MLI market and we are actively exploring further investment opportunities.”
Chancerygate was advised by B8 Real Estate on the acquisition of Birch Business Park and Hatrick Property acted for the vendor. Gerald Eve advised Chancerygate on the acquisition of Spa Trade Park and Savills and CBRE acted for Delancey.
