CHANCERYGATE SELLS HAYES DEPOT
Posted on: July 22, 2015
Chancerygate has sold Silverdale House in Pump Lane in Hayes to First Choice Building Supplies for its own occupation.
The redundant 13,000 sq ft self-contained former ammunition depot sits on a 0.9 acre site was acquired in November 2012 by Chancerygate along with the adjacent Provident Industrial Estate out of the Spoke Portfolio.
George Dickens, Development Manager for Chancerygate commented: “At the time Chancerygate acquired the property it was always envisaged that Provident Industrial Estate would be refurbished and retained on our own balance sheet.
Silverdale House was a site opportunity for us to redevelop when the lease came to an end in April 2015. However, the interest from the occupational market was so strong and First Choice became an obvious purchaser. The price paid was attractive and has allowed us to redeploy the capital into our ongoing development programme”.
JLL advised Chancerygate on the sale.