UK industrial property developer Chancerygate has acquired two adjacent sites in Leatherhead, Surrey for a £32m (€38m) development.

Chancerygate has invested an undisclosed sum to acquire a 3.6-acre site from a private family investor and an adjacent one-acre site from an international corporation.

Both sites currently comprise office and warehouse accommodation which will be demolished for the new development.

Chancerygate said the sites, totalling 4.6 acres, will be used to develop 13 leasehold units ranging from 3,000sqft to 19,000sqft on the land.

Alastair King, head of development at Chancerygate, said: “Leatherhead’s proximity to excellent transport connections and an affluent, skilled workforce has resulted in a thriving business community, including an array of established, blue-chip multi-national companies.

“Our proposed development of high specification, sustainable industrial accommodation will complement the local and regional economy and stimulate further investment and job creation.”

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