Urban logistics property developer Chancerygate has acquired a two-acre site in Old Trafford, Manchester, from real estate investor Landmark Group for an undisclosed sum.
The site will be developed into 53,000 sq ft of grade-A sustainable urban logistics space, with a gross development value of around £15m.
The proposed UrbanX development will feature two leasehold units — one measuring 30,200 sq ft and the other 22,800 sq ft — both have been designed to achieve EPC A+ and BREEAM Excellent certifications.
A planning application is expected to be submitted in July.
The site is situated less than a mile from Manchester city centre, close to the key Bridgewater Way route and within easy reach of Trafford Park and Salford Quays.
Chancerygate currently has approximately 1.4m sq ft of urban logistics space either under construction or in the pipeline across 11 sites.
BC Real Estate and Savills are the agents for the development.
Chancerygate development director, Chris Brown, said: “We believe our proposals will create the platform for urban logistics occupiers to better service the ever-increasing city centre population more efficiently.
“It will also further showcase the high-specification, sustainable accommodation we consistently deliver throughout the North West as we continue to expand our development footprint in the region.”
Christopher Dee and BC Real Estate advised Chancerygate on the transaction; Mason Partners acted for Landmark Group.
Image from Chancerygate
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