Chancerygate and Hines JV pre-sells 25% of 157,000 sq ft Nottingham industrial scheme

A joint venture (JV) between Chancerygate and Hines has pre-sold almost a quarter of its 18 unit, 156,812 sq ft Trent Gateway industrial and warehouse development in Beeston, near Nottingham.

In addition to selling a 4,877 sq ft unit to Midlands-based Eden Tyres & Servicing, the JV has sold three units totalling 25,099 sq ft to private investors. One of the units, consisting of 13,003 sq ft, will be occupied by gym equipment companies, Indoor Sport Services and Again Faster.

Trent Gateway forms part of the former Siemens Communications site and offers freehold and leasehold units ranging from 2,644 sq ft to 36,339 sq ft. Construction is scheduled to complete by the end of May.

The development offers excellent access to junction 25 of the M1, Beeston Railway Station and East Midlands International Airport.

Commenting on the early success of the site, Chancerygate development director, Mark Garrity, said: “The level of interest in Trent Gateway has been consistently high since even before work started on the site. These pre-sales are testament to the high quality of the accommodation and its excellent location.

“Interest in the remaining units is high and we look forward to continuing discussions with potential occupiers looking to take advantage of such an attractive opportunity.”

Founded 25 years ago, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide with offices in London, Birmingham, Warrington and Milton Keynes.

In 2019, Chancerygate invested around £60m to acquire eight sites totalling 58 acres. During the same year, the business delivered more than one million sq ft of accommodation and let or sold 72 units.

Greg Cooper, Hines UK director of industrial and logistics, added: “Our joint venture with Chancerygate goes from strength to strength, with our portfolio of prime industrial space representing around one million square feet. Our leasing success at our developments across the UK demonstrates the growing demand for high quality, well-located industrial and logistics space.”

FHP and Innes England are joint letting agents for Trent Gateway. FHP advised Chancerygate on all four of the pre-sales and all values relating to the sales are undisclosed.

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