Developer Chancerygate and specialist sustainable and impact investor Bridges Fund Management have sold Harlequin Business Park in Hayes, West London, to property investment firm Ableprop.
Harlequin Business Park is a 90,000 sq ft sustainable urban logistics development, comprising nine leasehold Grade A units ranging from 5,100 sq ft to 39,700 sq ft. The scheme achieved practical completion in early August this year. All values relating to the transaction are undisclosed.
Situated on Southall Lane, in an established industrial location near the Beaver Industrial Estate, International Trading Estate and Western International Market, the scheme benefits from excellent road connectivity with junction three of the M4 motorway less than one mile away and four miles from the A40.
The development features electric vehicle charging points with the ability to add more based on future requirements. In addition, all properties feature air-source heat pumps and solar panels on their roofs which provide affordable green energy to run the buildings.
The units are also constructed from high-performance insulative materials with controlled air tightness which reduces CO2 emissions and increases energy efficiency. These features have enabled the scheme to achieve an EPC A+ and BREEAM Excellent rating and will support it being a net zero carbon for regulated energy scheme.
Chancerygate development director, Tom Faulkner, said: “Harlequin Business Park will meet the growing demand from occupiers in the West and Greater London area for flexibly sized, high specification accommodation with strong sustainability credentials.
“Its strategic positioning near established industrial locations and key infrastructure connectivity enables occupiers to serve markets easily throughout the locality and the wider South East region.
“The sale of Harlequin Business Park to Ableprop also evidences how our product’s characteristics and strategic positioning is attractive to both investors and occupiers.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and investment manager and the only one operating nationwide.
The company currently has more than 1.41m sq ft of industrial space under construction or ready for development across 11 sites ranging from Edinburgh to Croydon.
Bridges is a specialist sustainable and impact investor. Its property funds focus on sectors that support the transition to a more sustainable and inclusive economy, including healthcare, housing and sustainable logistics.
Henry Pepper, partner at Bridges, said: “The sale of Harlequin Business Park reflects the strong demand for best-in-class, sustainable industrial units that can help occupiers reduce costs and cut emissions.
“This EPC A+, BREEAM Excellent development, with its outstanding low-carbon design and environmental performance, is another great example of Bridges and Chancerygate’s ability to identify great sites and deliver best-in-class developments that are attractive to occupiers and onward investors.”
For more information visit www.chancerygate.com
Building, Design & Construction Magazine | The Choice of Industry Professionals
