Chancerygate has received four nominations at this year’s Industrial Agents Society awards, including for the highly competitive developer of the year category.
Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. It competes against two other finalists for the coveted developer of the year award, which is voted for by IAS agent members.
This financial year, Chancerygate aims to triple its completed developments compared with the previous year, targeting 1 million sq ft across 11 schemes.
The three other categories which Chancerygate has been shortlisted for are:
• Best overall scheme (multi-let industrial estate) for Eaton Point in Chorley, Lancashire
• Best asset management initiative for its deal with telecommunications provider EE
• Deal of the year (under 75,000 sq ft) for the Abellio Bus Depot in Southall, Greater London
Winners for all the awards will announced at the IAS Awards gala luncheon on Thursday 26 September at the London Marriott Hotel, Grosvenor Square.
At Eaton Point, Chancerygate identified the site as an opportunity for both refurb and new speculative development, and its success has exceeded expectations. A new company record was set in the North West, with 11 out of 13 units sold in nine months. The largest unit was let to Tilemaster Adhesives for five years and sold to Warehouse REIT for £3.6m.
EE’s deal with Chancerygate saw the asset manager refurbish five freehold telecommunication switching stations which were operationally redundant. The properties were returned to high-quality industrial units and sold for over £6.5m with a profit cost of 54 per cent. The deal produced a 123 per cent IRR return. All occupiers who took the buildings were local companies looking to expand.
The Abellio Bus Depot, Southall, which was delivered ahead of schedule and on budget, involved the redevelopment of a former food production unit totalling 53,000 sq ft on behalf of USS. Chancerygate transformed the site into a bespoke 14,000 sq ft bus depot and yard where Abellio now stores and maintains 135 vehicles from its Transport for London fleet.
Chancerygate managing director, Richard Bains, said: “To be nominated for developer of the year once again is a great achievement for the Chancerygate team. Being shortlisted for three other Industrial Agent Society awards at the same time is testament to our impact and influence in the market.
“I believe we are the most entrepreneurial and successful industrial developer and asset manager within our markets, delivering outstanding products which create real benefits for businesses and communities. The nominated projects are fantastic examples of hard work and teamwork across our development, asset management and project management teams.”
IAS agent members can review the nominations and cast a vote for Developer of the Year here