Chancerygate has bought a two-acre site in Old Trafford, Manchester, to speculatively develop logistics scheme with a gross development value of around £15m.
The site, which sits less than one mile from Manchester city centre, is adjacent to the Bridgewater Way arterial route. It was acquired from real estate investor Landmark Group. The 53,000 sq ft grade A scheme, to be known as UrbanX, will offer two warehouses measuring 30,200 sq ft and 22,800 sq ft. Both buildings will target EPC A+ and BREEAM Excellent ratings. Chancerygate plans to lodge proposals in July this year.
Chris Brown, development director at Chancerygate, 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 whilst Mason Partners acted for Landmark Group. Agents for the development are BC Real Estate and Savills.
Send feedback to Evelina Grecenko
Follow Estates Gazette
