A joint venture (JV) between industrial developer and asset manager Chancerygate and Hines, the international real estate firm, continues to gain momentum with the acquisition of a site in Beeston, Nottinghamshire.
The 6.4-acre site at Trent Gateway, which is within Beeston Business Park, will feature 16 freehold and leasehold units totaling 155,268 square feet. These will range in size from 2,300 square feet to 49,811 square feet and are scheduled for occupation later this year.
The acquisition comes alongside a further deal which sees the JV acquire a site in Bournemouth.
Commenting on the site acquisitions, Chancerygate Managing Director, Richard Bains, said: “These are excellent acquisitions for our joint venture. They further demonstrate our intent and ability to find and secure locations throughout the UK which have untapped potential. In such areas, there is always high demand for the excellent standard of our product and high level of service we deliver.”
Hines Senior Managing Director and UK head, Ross Blair, added: “These are two very promising acquisitions for the joint venture that will deliver much sought-after quality industrial schemes. Our partnership combines Chancerygate’s significant industrial market expertise with Hines’ investment, development and asset management capabilities. We are very encouraged by the joint venture’s progress and we are actively looking at further opportunities in this growing sector.”
FHP and Innes England have been appointed as sales and lettings agents for the Beeston units.