FIRST ACQUISITION OF 2015: CHANCERYGATE INVESTS IN CHELMSFORD
Posted on: Jan 14, 2015
The property comprises 95,000 sq ft of single storey warehouse believed to have originally been built in the late 1950s and subsequently extended. The property is currently occupied by DHL and UPS. Both companies operate their regional distribution networks from the units and occupy on short-term leases.
The site on which the buildings sit comprises approximately 3.7 acres and is located on the east side of Westway opposite the established Robjohns Industrial Estate and immediately adjacent to the 11.5-acre former Britvic bottling and distribution plant.
Chancerygate Development Director, Alastair King, comments: “This is a well located site in one of the major Essex conurbations with good access to the main transport links including the A12, A414 and M25. Sitting alongside a number of high-profile occupiers such as Big Yellow, Booker, Halfords and Formula One Autocentres as well as a number of major motor dealerships.
We see this site as having excellent potential for redevelopment in the short to medium-term. In addition to the potential to redevelop the site, our acquisition was also predicated on the income this asset provides whilst we consider our options going forward”.
Doherty Baines acted for Chancerygate. Roebuck Asset Management and DTRE acted on behalf of the vendor.