UK industrial developer and asset manager Chancerygate has acquired a 2.48-acre site in Newmarket for a £11.5m (€13.5m) project.
Chancerygate intends to speculatively build 10 units ranging from 3,595sqft to 6,685sqft.
Chancerygate senior development director George Dickens said: “This site presents a great opportunity to open up a former manufacturing location to new employment uses. We continue to see strong demand for flexibly sized, high-quality and sustainable urban logistics accommodation in strategic regional locations.
“Our proposed development will help satisfy this demand and provide a long-term economic asset for the locality and the wider Cambridgeshire, Suffolk and Norfolk regions. Chancerygate look forward to working with West Suffolk District Council to deliver planning consent for this exciting new development.”
To read the latest IPE Real Assets magazine click here.