26 June 2025

Chancerygate secures building permit for first Spain development in Valencia

Chancerygate has secured a building permit for its first development site in Spain in Alcàsser, Valencia.

Called L’Alter Business Park, the development, which is located outside the city’s flood risk area, will comprise 21,000 sq m of Grade A sustainable multi-let light industrial and urban logistics space.

Situated on Carrer dels Pedrapiquers around 20km south of Valencia city centre, Chancerygate acquired the three-hectare site from a local developer for an undisclosed sum.

The development will feature nine units ranging from 755 sq m to 3,300 sq m which are all available leasehold. Chancerygate estimates that, once complete, the site will have provision for up to 150 jobs.

Construction is scheduled to commence in the fourth quarter of this year and is due to complete in the third or fourth quarter of 2026.

The site is adjacent to the V31 motorway, providing fast access to the city and the Port of Valencia, and the AP7 circular road for connections to the A3 and A7 motorways linking Madrid, Barcelona and Alicante.

All properties at the development will comply with the updated RSCIEI fire regulations and will benefit from electric vehicle charging points and solar panels.

In addition, the units will be constructed with high-performance building materials to reduce CO2 emissions. The scheme is targeting an EPC A and BREEAM Excellent rating as a minimum.

Chancerygate Spain development director, Felipe Lainez, who is based in the Madrid office, said: “Securing the building permit for our Alcàsser development is a momentous occasion as it not only marks Chancerygate’s first development in Spain, but also our first permission to build on the continent.

“Valencia is an excellent location for our first scheme. It presents us with a great opportunity due to low vacancy rates and high demand from logistics companies using the city’s expanding cargo port.

“Chancerygate is well positioned to capitalise upon this opportunity by delivering our new Grade A high specification, sustainable accommodation which is suitable for wide range of occupiers and uses.”

Chancerygate European director, Jason Sharman, added: “L’Alter Business Park will demonstrate our capabilities as a developer whilst also providing us with additional momentum as we continue to realise our strategic ambitions within Spain and across Europe.

“Since opening our Madrid office last year, we have been very well received by the market and are currently in advanced negotiations on a number of other development opportunities within Spain.”

TPF Consulting acted for Chancerygate on the Valencia site acquisition. Advice on the building permit was provided by environmental consultants TRC and architects ASPOR. Construction and property consultants Artelia acted as project monitors.

Chancerygate was provided with commercial due diligence advice and legal consultancy by Cushman & Wakefield and Garrigues respectively.

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

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