Chancerygate snaps up West Midlands site for midbox development
Urban logistics property developer and investment manager Chancerygate has snapped up a site at Hams hall in the West Midlands to develop a circa.145,000 ft2 midbox warehouse scheme.
By Liza Helps, Property Editor, Logistics Matters
THE COMPANY paid an undisclosed amount for 6.38 acre the site at Faraday Avenue, Hams Hall Distribution Park, Coleshill. It is currently used as open storage with a quoting rent of £80,000 an acre.
Chancerygate is looking to submit planning for the site in the Spring and envisages a 145,000 ft2 scheme of six units ranging between 12,000 – 47,000 ft2 targeting EPC A and BREEAM Excellent ratings.
Subject to planning, construction work is expected to commence in the early 2027, with practical completion anticipated towards the end of the year.
Chancerygate development manager, Rob Watts, said: “This was a complex transaction, which required input from multiple parties to unlock one of the premier sites in the West Midlands.
“This acquisition gives us the opportunity to bring forward high specification, sustainable space at Hams Hall and support new local employment opportunities.
“There is strong demand from businesses operating in the West Midlands for modern accommodation in well-connected industrial and logistics locations. Our plans are designed to meet that need with flexible units ideal for a wide range of occupiers.”
DTRE advised Chancerygate while Cracknore Hams Hall was represented by Box4 real estate.
