the south west |
CHANCERYGATE PROGRESSES SOUTH WEST PROJECTS L
eading industrial developer, Chancerygate, is progressing projects around Bristol which are delivering around 380,000 sq.ft of new industrial and warehouse space. The developer’s 150,000 sq.ft Apollo
Park project in Yate comprises 13 flexible industrial and warehouse units, and is the first speculative multi-unit scheme to be built in the location for 10 years. The scheme’s two phases have attracted relocating local occupiers who have been attracted by the opportunity to upgrade their workplaces whilst remaining close to their skilled workforce.
Phase 1 of the scheme combined a 21,300 sq.ft HQ warehouse which was pre- let to local occupier Saddleback plus 61,000 sq.ft of speculative units over 3.5 acres. Phase 2 consists of a pre-sold bespoke 55,500 sq.ft warehouse and office facility for national timber panel import and distribution business James Latham plc. The development was 70% pre-let/sold prior to practical completion. It was named Development of the Year at Insider Media’s South West Property Awards, and is now fully occupied just a year after it was bought to the market. Chancerygate Development Director, Alastair King, comments: “The scheme is a prime example of Chancerygate’s entrepreneurial nature, its willingness to take risk and its vision to speculatively build in regional markets. It also demonstrates our ability to listen to and work with our
Crown Way, Warmley
end users to accommodate their requirements whilst providing added value and overcome challenging planning restrictions”.
Earlier this year, Chancerygate also bought 4.7 acres at Vertex Park - part of the Emerson’s Green Enterprise Area - and the 6.6-acre former Amcor factory site in Warmley. As part of the transaction at Warmley, Chancerygate agreed terms for Amcor Flexibles to lease back around 15,000 sq.ft of office space to retain its UK head office function in Bristol.
At Vertex Park, the developer has submitted a planning application for 107,000 sq.ft in 11 buildings ranging in size from 4,188 sq.ft to 33,928 sq.ft available on a freehold or leasehold basis. The site’s location between the A4174 ring road and
Vertex Park, Emersons Green
the M4 motorway and adjacent to Bristol and Bath Science Park is within easy reach of the M32 and M4/M5 motorway corridors. Completion of the project is scheduled for mid-2018. At Warmley, Chancerygate is currently preparing a planning application for 15 new production/distribution/trade units totalling around 119,000 sq.ft, which will include the refurbishment of an existing 35,000 sq.ft distribution building available on a freehold or leasehold basis. Completion of the project is scheduled for the middle of next year. Alastair King comments: “There is strong demand for high quality industrial and warehouse space in the South West and these projects are further examples of our ability to provide product across premium locations in the UK”. Please visit
Chancerygate.com
Saddlebacks unit at Apollo Park Yate COMMERCIAL PROPERTY MONTHLY 2017 75
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