CBRE Investment Management (CBRE IM) and Chancerygate have formed a joint venture to develop urban logistics schemes on behalf of an investment fund sponsored by the former.

The partnership has secured its first development sites representing more than 450,000sqft.

Toby Creamer, portfolio Manager at CBRE IM, said: “This was an exciting opportunity to partner with Chancerygate, which has a reputation for developing high-specification industrial assets with excellent ESG credentials.

“The secured schemes will meet strong occupier demand in their respective markets where supply remains constrained. We believe that industrial and logistics assets will outperform the wider property market over the next five to ten years and we look forward to working with Chancerygate to bring these new high-specification logistics assets to the market.”

Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.

Richard Bains, managing director at Chancerygate, said the partnership will boost the firm’s UK expansion strategy and deliver for them a nationwide “portfolio of high-quality assets”.

Bains said: “Having access to a substantial amount of capital will allow us to act quickly and decisively to secure the best strategically located urban logistics sites. We have a number of sites under offer which we are very excited to report further on in due course.”

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