Chancerygate and Bridges Fund Management will build a 254,000 sq ft business park in Coventry.
The jv was granted planning permission this week to transform the former Meggitt aerospace factory north of the West Midlands city into the £35m Holbrook Business Park. The 12-acre scheme will comprise 31 grade-A units ranging from 2,153 sq ft to 40,053 sq ft.
Holbrook Business Park will form part of a larger mixed-use commercial and residential development, which includes 499 new homes.
The warehousing and industrial space will be delivered in two phases, with Chancerygate set to commence construction of phase one in August 2021. The initial phase, which will comprise 105,218 sq ft of industrial space across 17 units, is due to be completed in June 2022.
Mark Garrity, Chancerygate development director and head of the company’s Birmingham office, said: “We are already experiencing significant interest from potential occupiers and are looking forward to turning our development plans into reality.”
Joint agents on the scheme are Avison Young and KWB.
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