Chancerygate and Hines secure consent for Kent spec development
The joint venture between Chancerygate and Hines has gained planning approval for a new 100,000 sq ft speculative industrial development in Tonbridge, Kent.
The 4.11-acre site, called Tonbridge Trade Park, comprises 15 facilities ranging from 4,000 to 15,000 sq ft. It has a gross development value of around £20m.
It will provide trade, warehouse, industrial and other roadside opportunities.
The joint venture between Chancerygate and Hines has gained planning approval for a new 100,000 sq ft speculative industrial development in Tonbridge, Kent.
The 4.11-acre site, called Tonbridge Trade Park, comprises 15 facilities ranging from 4,000 to 15,000 sq ft. It has a gross development value of around £20m.
It will provide trade, warehouse, industrial and other roadside opportunities.
The location will represent Tonbridge’s first new industrial scheme for more than two decades. Presale and prelet discussions with prospective occupiers are already taking place.
Tom Faulkner, development manager at Chancerygate, said: “Tonbridge Trade Park will see us provide the region with much-needed, modern industrial and warehousing accommodation, with the potential to create new jobs in rapidly growing sectors of the economy.”
Greg Cooper, UK director of industrial and logistics at Hines, said: “We’re already having a number of positive discussions with businesses, and with the scarcity of industrial space in the region, we are confident of securing our first occupiers ahead of completion of the scheme.”
Chancerygate and Hines launched the jv in September 2018 with Tonbridge as its first acquisition. The jv’s portfolio of industrial space has a total GDV of around £107m, and comprises 758,606 sq ft across developments in Warrington, Birmingham, Nottingham, Cheltenham and Bournemouth.
Bracketts and DTRE are the joint agents on the scheme.
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