15 May 2025
Chancerygate and Hines submit plans for £35m, 133,500 sq ft urban logistics development in Redditch
A joint venture (JV) between Chancerygate and global real estate investor, developer and manager Hines has submitted plans to speculatively build 133,500 sq ft of Grade A urban logistics space in Redditch.
The JV is funded by Hines European Real Estate Partners III (HEREP) which has more than £1.3bn of equity commitments.
Called Aurora Park, the proposed scheme will comprise nine leasehold units ranging from 7,685 sq ft to 22,055 sq ft. Once complete, it will have a gross development value of around £35m.
The 6.4-acre site, located on Ravensbank Drive on North Moons Moat industrial estate, is within close proximity to junction 3 of the M42 and the wider motorway network, offering easy access to Birmingham.
Neighbouring occupiers to the proposed development include Amazon, iForce, Lear Corporation, AMCO and a wide variety of regional and local businesses.
All properties at Aurora Park will feature electric vehicle charging points along with solar cells which provide green energy on an affordable basis to occupiers.
In addition, the units will be constructed from high-performance building materials to reduce CO2 emissions. The scheme is targeting an EPC A and BREEAM Excellent rating.
Chancerygate development manager, Rob Watts, who is based in the company’s Birmingham office, said: “There is strong demand from occupiers in Redditch, Worcestershire and the wider West Midlands region for high quality, sustainable urban logistics accommodation.
“Aurora Park will help satisfy this demand, providing occupiers with Grade A space in a strategic location close to key infrastructure.
“We look forward to working with Redditch Borough Council to progress our planning application which will deliver employment land and a long term economic asset for the town.”
Greg Cooper, managing director at Hines UK, said: “Our partnership with Chancerygate is now in its sixth year and our complementary experience and capabilities has enabled us to deliver a wide range of high quality, sustainable urban logistics and mid-box facilities in strategic locations across the UK.”
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