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Urban warehouse scheme for Leatherhead

12 July 2023

Developer Chancerygate has submitted plans to speculatively build an 82,400 sq ft urban warehouse scheme on land it acquired in Leatherhead last year.

Liza Helps, Property Editor, Logistics Matters

CALLED VICTORY Park, proposed scheme will comprise 4 buildings of 13 leasehold units ranging from 3,000 to 19,000 sq ft. The scheme is targeting an EPC A and BREEAM Very Good rating. Each unit will have one loading bay except Unit 7 which will have two. Loading bays of units 1, 2 and 7 can accommodate 16.5m articulated HGVs.

Internally, the units have entrances with stairs and toilet cores, large ground floor warehouses and offices on the first floor. Externally, they have extensive high level glazing and feature cladding panels accentuating entrances and providing visual contrast to the warehouse elements.

The project has a gross development value of £32 million.

The land totalling 4.6 acres was acquired in two lots with a 3.6-acre site bought from a private family investor in January 2022 for a price in excess of the £7.9 million guide, then an adjacent one-acre site from an international corporation for £2.5 million in April 2022.

The sites are located off Cleeve Road in Leatherhead Business Park approximately one mile north of the town centre and one mile east of junction 9 of the M25 motorway.

Chartered surveyors Aston Rose advised Chancerygate on the site acquisition of 3.6-acre site , whilst JS Land & Capital advised the vendor. The one-acre site was bought directly by the developer.

Chancerygate currently has more than 3.2m ft2 of industrial space under construction or ready for development across 24 sites ranging from Bournemouth to Edinburgh.