Developer Chancerygate and specialist sustainable impact investor Bridges Fund Management, have achieved practical completion on a new 200,000 sq ft multi-use development in Peterborough. Situated adjacent to Maskew Retail Park, Bourges View comprises three drive throughs, nine trade counter units and nine industrial and warehouse units ranging from 2,800 sq ft to 34,500 sq ft. Chancerygate and Bridges estimate Bourges View, which has a gross development value of £30m, will create up to 280 jobs. A number of occupiers have taken pre-lets of units at the development. Costa Coffee, fast food chain Taco Bell and US burger giant Wendy’s, will occupy the drive-through units. Trade merchants Toolstation, Wurth, Brewers, CareCo and self-storage provider Lok’nStore also committed to the scheme in advance of practical completion. The development benefits from being in an established roadside industrial and retail location and its close proximity to the A15 and A47, providing easy access to the city centre, ring road and wider transport network. Fourteen units ranging from 2,800 sq ft to 34,500 sq ft remain available and there is strong interest in the scheme from potential tenants.  Properties at Bourges View benefit from electric vehicle charging points and a selection of units include solar panels providing green energy. The units are constructed from high-performance building materials to reduce CO2 emissions and increase energy efficiency. Chancerygate senior development director, George Dickens, said: “We have rejuvenated an empty site to create new employment and trade counter opportunities. This ensures businesses located at Bourges View are best placed to serve Peterborough and the locality, whilst supporting job creation and economic growth for the region. “There is strong demand from businesses for high specification, sustainable accommodation which is evidenced by the numerous well-known brands already secured as occupiers. The prominence, tenant mix and accessibility of this development makes it Peterborough’s premier roadside and trade counter destination.” Chancerygate and Bridges have been working in partnership on projects for more than 10 years. Investments include the acquisitions of sites for industrial development in Leeds and Coventry; the regeneration of Beeston Business Park, Nottingham; and the development of ‘The Curve’, a student housing development in London SE1. Guy Bowden, partner at Bridges Fund Management partner, added: “The Bourges View development has revitalised a previously redundant site and could create up to 280 new jobs for the surrounding area. “Incorporating important sustainable features into the design has enabled us to achieve a BREEAM Very Good rating. “The development will both benefit occupiers and provide the wider Peterborough community with a high-quality commercial and industrial hub.” Agents for Bourges View are Savills and JLL. For further information visit www.chancerygate.com. Building, Design & Construction Magazine | The Choice of Industry Professionals 

Chancerygate has secured planning for two multi-unit schemes at Gemini8 in Warrington and Forge Industrial Park in Sutton Coldfield. The development at Gemini8 will see Chancerygate speculatively develop 119,675 sq ft of industrial and warehousing space as part of a joint venture (JV) with Hines, the international real estate firm. Comprising 5.1 acres in total, the scheme will provide 18 freehold and leasehold units ranging from 3,900 sq ft to 16,500 sq ft and is strategically located with direct access to the M62. Planning consent comes after Chancerygate and Hines acquired the site in January this year. The development at Forge Industrial Park in Sutton Coldfield will see Chancerygate deliver a 72,007 sq ft freehold light industrial and warehousing scheme featuring 11 units ranging from 4,467 sq ft to 24,003 sq ft. Chancerygate purchased the 3.1-acre site last August and work to demolish an existing 69,000 sq ft industrial building on the site is due to begin in November. Located next to Minworth Trade Park, Forge Industrial Park is located 2.2 miles from junction 5 of the M6, three miles from junction 9 of the M42 and seven miles north east of Birmingham city centre. Alastair King, head of development at Chancerygate, said: “We are seeing growing demand for high-quality industrial developments across the UK. This is being driven in part by increasing demand from retailers and institutional investors, both of which regard strategically located industrial space as a key asset. “Our scheme at Gemini8 is a great example of this. Historically, there has been a shortage of warehousing space in Warrington and there has not been a multi-unit development in the area for more than a decade. Now, we are seeing demand rise significantly and that is why we are best placed to invest in the area to speculatively develop 119,675 sq ft of industrial and warehousing space. “Rising demand is also a key driver behind our development at Forge Industrial Park. It is a well-established industrial area and is ideally located for retailers and funds looking to invest in warehousing and logistics to meet growing consumer demand for ecommerce and home delivery models.” Commenting on the scheme at Gemini8 in Warrington, Greg Cooper, Hines UK director of industrial and logistics, said: “This is an important next step in continuing to grow our portfolio with Chancerygate and deliver high-quality industrial schemes across the UK. The partnership to date has been highly successful at identifying modern industrial and logistics space in strategic locations across the UK and we welcome the momentum behind these quick transactions that allow us to deliver schemes at pace.” Joint agents on the Gemini8 scheme are CBRE and Davies Harrison. Joint agents on the Forge Park Industrial scheme are Knight Frank and Gerald Eve.

A joint venture (JV) between Chancerygate and Bridges Fund Management has acquired an 8.63-acre site in Peterborough to speculatively develop up to 200,000 sq ft of industrial, roadside and trade space. Located on Maskew Avenue, the site has lain vacant for a decade and is around two miles north of Peterborough town centre. It is also immediately adjacent to the established Maskew Retail Park which includes B&Q, Matalan, Aldi and Argos as occupiers. The vacant site’s vendor was Wren Kitchens and the value of the sale is undisclosed. The JV intends to submit plans to the local authority within the next four months which, if approved, will provide the opportunity for a mix of industrial, warehouse, trade counter, self-storage and roadside accommodation. Subject to planning, Chancerygate and Bridges Fund Management have already agreed the sale of one acre of the site to self-storage company Lok’nStore. In addition, the JV is also in advanced negotiations with drive-through food and beverage retailers. Commenting on the acquisition, Chancerygate development director, George Dickens, said: “We are very pleased to have secured this prominent development opportunity and bring back to life a site that has lain dormant for 10 years. “We specialise in speculative development and believe that the Maskew Avenue site is ideally placed for us to do what we do best by creating a mix of industrial, roadside and trade units which will attract investment and jobs to the area. This is already evident by our agreement with Lok’nStore and the positive ongoing negotiations with drive through operators. “We are looking forward to delivering much-needed, high quality accommodation for a wide variety of businesses.” Chancerygate and Bridges Fund Management have been working in partnership on projects for more than 10 years. Investments include the development of ‘The Curve’, a student housing development in London SE1; the regeneration of Beeston Business Park, Nottingham; and the recent acquisition of a site for industrial development in Coventry. Bridges Fund Management partner, Guy Bowden, added: “Our Maskew Avenue site will allow us to regenerate and revitalise a sizeable area of land by creating a new place for both business and the wider Peterborough community. We are looking forward to having the opportunity to deliver another successful project with Chancerygate.” Chancerygate and Bridges Fund Management have appointed property consultancy Savills as agents for the Maskew Avenue site.