UK industrial developer Chancerygate has acquired more than seven acres of development land at sites in Chertsey, Harlow and Cheltenham.
Chancerygate said the sites will be developed to create 181,000sqft of new warehouse and industrial space. No financial details were disclosed.
In Chertsey, the company has bought an existing development of five industrial warehouses on Hanworth Lane. These will be replaced by 62,000sqft of space in 12 units.
At Harlow Business Park, Chancerygate will be developing a 27,000sqft scheme in five units which will be available on a freehold basis.
Chancerygate has also bought a site on Cleeve Business Park to the north of Cheltenham where planning will be submitted for a 92,000 scheme in nine units ranging from 4,500sqft to 23,500sqft.
Alastair King, the head of development at Chancerygate said: “These sites are all in locations where there is sustained demand for contemporary warehouse and industrial space.
“Their acquisition adds further to our development pipeline and is in line with our strategy to purchase sites in undersupplied locations and develop high-spec industrial space aligned to occupier specifications and needs.”
In the past 12 months, Chancerygate has acquired more than 37 acres of development land across nine sites. It currently has more than 2m square feet of space under construction or in the pipeline across the UK.
