UK multi-unit industrial property developer and asset manager Chancerygate has teamed up with Northwood Investors to developed urban logistics assets throughout the country.

The joint venture, which intends to acquire sites in UK cities over the next 18 months, has agreed its first deal in the North West. The venture is also in talks to acquire assets which will also be announced when they complete.

The latest venture represents a further strengthening of the relationship between the two firms. Chancerygate has in the past six months sold over 1.5m sqft of urban logistics assets to Northwood Investors, a company that owns and operates real estate across the US and Europe.

Richard Bains, Chancerygate’s managing director, said: “We are delighted to have entered into this joint venture with Northwood which is a natural evolution of our close working relationship with them. We are excited by the opportunities it will deliver for both businesses.”

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