Developer Chancerygate has bought a former GE Aviation Systems site in Newmarket, Suffolk, for a 51,000 sq ft speculative urban logistics development.
When completed, the 2.5-acre scheme will have a gross development value of around £11.5m.
Chancerygate aims to develop 10 facilities ranging from 3,595 sq ft to 6,685 sq ft, which would be available on either a freehold or leasehold basis.
The site is located on Exning Road, two miles south of the A14, with access to the east coast ports and the national motorway network.
Occupiers located near the proposed development include Screwfix, Toolstation, Travis Perkins and Evri.
The development will target EPC A and BREEAM Excellent ratings. It will feature enhanced roof lighting to increase levels of natural daylight and be constructed from high-performance building materials to reduce CO2 emissions.
George Dickens, senior development director at Chancerygate, said: “This site presents a great opportunity to open up a former manufacturing location to new employment uses.
“We continue to see strong demand for flexibly sized, high-quality and sustainable urban logistics accommodation in strategic regional locations.
“Our proposed development will help satisfy this demand and provide a long-term economic asset for the locality and the wider Cambridgeshire, Suffolk and Norfolk regions.”
Chancerygate was advised on the site acquisition by Cheffins. Cushman & Wakefield acted for the seller.
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