FOUR DEALS DONE AT SPECULATIVE INDUSTRIAL AND WAREHOUSE SCHEME
A joint venture between industrial developer and asset manager Chancerygate and international real estate firm Hines says it has pre-sold almost a quarter of its 18 unit, 156,812 sq ft Trent Gateway industrial and warehouse development in Beeston.
As well as selling a 4,877 sq ft unit to Midlands-based Eden Tyres & Servicing, the JV has sold three units totalling 25,099 sq ft to private investors. One of the units, consisting of 13,003 sq ft, will be occupied by gym equipment companies, Indoor Sport Services and Again Faster.
Trent Gateway forms part of the former Siemens Communications site. Construction is scheduled to complete by the end of May.
Chancerygate development director, Mark Garrity, said:-
“The level of interest in Trent Gateway has been consistently high since even before work started on the site. These pre-sales are testament to the high quality of the accommodation and its excellent location.
“Interest in the remaining units is high and we look forward to continuing discussions with potential occupiers looking to take advantage of such an attractive opportunity.”
Greg Cooper, Hines UK director of industrial and logistics, added:-
“Our joint venture with Chancerygate goes from strength to strength, with our portfolio of prime industrial space representing around one million square feet. Our leasing success at our developments across the UK demonstrates the growing demand for high quality, well-located industrial and logistics space.”
Trent Gateway is located within the wider 48-acre Beeston Business Park which is a JV between Chancerygate and Bridges Fund Management. Beeston Business Park’s 220,274 sq ft was recently fully let following a deal with housing Metropolitan Thames Valley Housing to secure 34,400 sq ft of Grade A office space on a 20-year lease.
FHP and Innes England are joint letting agents for Trent Gateway. FHP advised Chancerygate on all four of the pre-sales and all values relating to the sales are undisclosed.
Contact: Mark Tomlinson
Tel: 0115 841 1134
Date: 15th May 2020