Chancerygate and Bridges Fund Management JV submits plans for 68,000 sq ft urban logistics development in Tolworth

A joint venture (JV) between Chancerygate and specialist investor Bridges Fund Management has submitted plans to speculatively build 67,975 sq ft of Grade A urban logistics space on a 2.78-acre site at Red Lion Road Business Park in Tolworth.

The JV intends to develop an industrial scheme comprising nine units ranging from 4,467 to 17,513 sq ft. Units will be available on a leasehold basis.

The JV acquired the site from a private vendor for an undisclosed sum and hopes to start construction in the second half of 2022.

Close to Tolworth Hospital and the A3 Kingston Bypass in the heart of Tolworth, the site is situated in a prime location offering good access to Kingston-upon-Thames and central London. It is eight miles from junction 10 and 17 miles from junction 12 of the M25, seven miles from Leatherhead and 12 miles from Croydon and Heathrow.

Chancerygate development manager, Matthew Young, said: “This is a really exciting opportunity to regenerate a site that has been under utilised for many years and allocated for industrial use by the local authority. We will bring forward a new high-specification urban logistics development with strong sustainability credentials.

“Our plans will help address a real shortage of high-quality, new build industrial space across the region. We’re confident this development will meet the needs of businesses across Tolworth and its surrounding areas by providing quality, sustainable urban logistics accommodation that provides easy access to central London.”

The developer’s current plans follow the successful delivery of 32,000 sq ft of industrial space across 11 units, which Chancerygate developed adjacent to the site at Red Lion Road Industrial Estate in 2009.

Henry Pepper, partner at Bridges Fund Management, said: “Our proposed development on this really well-located site will deliver high-quality logistics units that will create jobs and boost the local economy. We’re also increasingly finding that our focus on delivering buildings with strong sustainability credentials is not just better for the planet; it is also making these sites more attractive to potential occupiers.”

Agents for the scheme are JLL and Bonsors.

You can learn more about Chancerygate’s development sites across the UK here.

< Back to News

© Chancerygate 2024 | Chancerygate Limited is a limited company registered in England and Wales with registered number 03699100 and VAT registered number 123 3289 34. Our registered office is at 12A Upper Berkeley St, Marylebone, London W1H 7QE
Website by Propeller Design