UK industrial developer and asset manager Chancerygate has opened an office in Madrid and appointed a development director for Spain as part of its expansion into Europe.
The company has appointed Felipe Lainez to spearhead its expansion in Spain by initially sourcing development opportunities in Barcelona, Valencia, Madrid, Málaga and Bilbao.
Lainez joins from Mirastar Real Estate Investment where he was development director for southern Europe for the past four-and-a-half years.
In his new role, he will work alongside Chancerygate’s London-based European director, Jason Sharman, and European manager, Alex Houghton.
Lainez commented: ‘There is a huge opportunity for Chancerygate in Spain as its Grade A product and multi-let urban logistics development experience is unmatched.
‘The opportunity to be a pioneer for Chancerygate in Spain is exciting, and I am in active, positive discussions to acquire sites in and around our target cities.’
Sharman added that Chancerygate is close to securing its first development site in Spain, and expects to be able to announce the opening of an office in Portugal soon which will enable the firm to target Iberia as a whole.
‘2024 will be a big year for us in Europe and we are very pleased to have someone of Felipe’s calibre to lead the delivery of Chancerygate’s growth plans in Spain,’ he said.
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide. It currently manages in excess of £385 mln of assets across more than five million ft2 of commercial space.
The firm entered the European market for the first time in 2022 with the €4.5 mln acquisition of a five-acre site in Ireland near Dublin airport. The site was acquired in partnership with specialist sustainable and impact investor Bridges Fund Management.
