Chancerygate acquires Newmarket site to deliver £11.5m, 51,000 sq ft urban logistics development

Chancerygate has purchased a 2.48 acre site in Newmarket to speculatively build 51,000 sq ft of Grade A urban logistics space.

The site is located on Exning Road two miles south of the A14, with access to the east coast ports and the national motorway network.

Chancerygate intend to develop 10 units ranging from 3,595 sq ft to 6,685 sq ft which will be available on both a freehold and leasehold basis. Once complete, the scheme will have a gross development value of approximately £11.5m.

The site housed an electronics and displays manufacturer for aerospace, military, transport, telecommunications, computer, medical and industrial applications.

Neighbouring occupiers to Chancerygate’s proposed development include Screwfix, Toolstation, Travis Perkins and Evri.

All properties will benefit from cycle storage, electric vehicle charging points and solar cells which provide green energy on an affordable basis to occupiers.

In addition, the units will have enhanced roof lighting to increase levels of natural daylight and be constructed from high-performance building materials to reduce CO2 emissions. The scheme is targeting an EPC A and BREEAM Excellent rating.

Commenting on the acquisition, Chancerygate senior development director, George Dickens said: “This site presents a great opportunity to open up a former manufacturing location to new employment uses.

“We continue to see strong demand for flexibly sized, high-quality and sustainable urban logistics accommodation in strategic regional locations.

“Our proposed development will help satisfy this demand and provide a long-term economic asset for the locality and the wider Cambridgeshire, Suffolk and Norfolk regions.

“Chancerygate look forward to working with West Suffolk District Council to deliver planning consent for this exciting new development.”

Chancerygate was advised on the site acquisition by Cheffins.

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

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