Chancerygate has exchanged contracts to purchase a development site in Sidcup. The seven-acre site includes a listed building that Chancerygate will be selling to a self-storage occupier.
Chancerygate’s Jonathan Lee commented: “We have agreed a delayed completion to allow time to secure planning, work through demolition and adapt the listed building. Excluding the self-storage building, we will be speculatively developing 105,000 sq ft of warehouse and industrial units available to let or for purchase”.
The listed building is the former Klinger factory (pictured) which was built in 1936 to a design by Wallis Gilbert & Partners who were responsible for a number of architecturally distinguished factory buildings of which the best known example is the Hoover Building in Ealing.
Eddie Cook, Managing Director of Chancerygate commented: “This acquisition is a further addition to our growing development pipeline which focuses on key strategic locations in the UK. In 2015 we acquired nine sites totalling 33 acres that will deliver 670,000 sq ft of space, and this year we have exchanged or completed on the purchase of six sites to accommodate 510,000 sq ft. These impressive results continue to place us apart from the competitors”.
DTRE advised Chancerygate on the acquisition.