Chancerygate and Bridges Fund Management acquire former automotive plant in Birmingham to deliver 300,000 sq ft sustainable logistics development

A joint venture (JV) partnership between Chancerygate and Bridges Fund Management has purchased a 12-acre, former automotive component manufacturing site in Erdington, Birmingham, to speculatively build 300,000 sq ft of Grade A urban logistics and industrial space.

The partners intend to develop 300,000 sq ft of space across 26 leasehold units ranging from 5,000 sq ft to 60,000 sq ft. Once complete, the development will have a gross development value of £85m.

The proposed development will be located on Chester Road in Erdington, on a site that previously housed a leading supplier to the automotive sector. On the outskirts of Birmingham city centre, it is also in close proximity to both junction 5 and 6 of the M6.

The JV purchased the site for an undisclosed amount and marks the partnership’s largest site acquisition to date.

Neighbouring occupiers to the proposed development include Jaguar Land Rover, Volvo and Selco Builders Warehouse, as well as further retail and industrial parks.

Commenting on the acquisition, Chancerygate development manager, Rob Watts, said: “Acquiring what is regarded as one of the most prominent sites in Birmingham is a huge statement of intent for our partnership with Bridges and underlines our strong belief in the urban logistics sector.

“There is unsatisfied demand for high-specification units in prime locations within the city. We aim to address this through the regeneration of a redundant building into new Grade A sustainable accommodation which is fit for purpose for a range of prospective occupiers.”

Bridges partner Guy Bowden added: “Across the Bridges platform, we’re developing some of the UK’s most sustainable logistics buildings. We’re delighted to secure this excellent site in Erdington, and we’re confident that given its prime location, there will be strong occupier demand for these high-quality, highly sustainable logistics units.”

Chancerygate and Bridges were advised on the site acquisition by Nick Collins at NRC Associates and Gerald Eve. Knight Frank advised the vendor.

You can learn more about Chancerygate’s live projects across the country here.

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