Chancerygate has acquired two investment assets for in excess of £75 million, which provide a combined total of 487,000ft² of multi-let industrial (MLI), urban logistics and trade counter space.
The assets are Birch Business Park in Heywood, Greater Manchester and Spa Trade Park in Tunbridge Wells, Kent.
Located in the Northern Gateway, Birch Business Park comprises 410,000ft² of multi-let industrial (MLI) and urban logistics space across 16 units.
There is also planning permission for an additional 90,000ft² industrial unit.
Spa Trade Park in Tunbridge Wells comprises 77,000ft² of MLI and trade counter space in close proximity to the A21.
This latest investment deal follows Chancerygate’s acquisition of the 685,000ft² Questor Industrial Estate in Dartford for £145m earlier this year.
Chancerygate was advised by B8 Real Estate on acquiring Birch Business Park while Hatrick Property acted for the vendor.
Chancerygate head of investment management, Simon Cowley said: “Both Birch Business Park and Spa Trade Park represent excellent sites for serving occupiers in their respective localities thanks to their strategic positioning near key infrastructure routes.
“These acquisitions further demonstrate our intent to expand our presence in the MLI market and we are actively exploring further investment opportunities.”
