A joint venture (JV) between Chancerygate and Hines, a global real estate investment, development and property manager, has achieved practical completion on its 193,000 sq ft Bedrock Park development near Bournemouth.
Situated off Vulcan Way on Ferndown Industrial Estate, the scheme comprises 26 high specification Grade A units ranging from 3,000 to 34,000 sq ft. The gross development value is around £30m.
Bedrock Park benefits from being in a key industrial location in the Bournemouth, Christchurch and Poole conurbation and offers excellent access to the A31, M27 and M3 motorways.
The JV pre-sold Bedrock Park to real estate private equity firm Northwood Urban Logistics in December 2021.
All properties at Bedrock Park have targeted minimum EPC rating of B rating and feature electric vehicle charging points and a selection of units include solar cells which provide green energy on an affordable basis to occupiers.
In addition, the units are constructed from high-performance building materials to reduce CO2 emissions.
Chancerygate development director, Jonathan Lee, said: “Bedrock Park is the first new build Grade A multi-unit urban logistics and trade counter scheme to be built in the local area for 15 years.
“Sitting in one of the premier industrial locations for the Bournemouth, Christchurch and Poole conurbation, the scheme is best placed to serve these towns and the wider South Coast.
“There is strong demand from businesses for high specification, sustainable accommodation, and thanks to its prime location and close proximity to key infrastructure, Bedrock Park will help meet this.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.
The company has offices in London, Warrington, Birmingham, Bristol, and Milton Keynes. It currently has more than 3.2m sq ft of industrial space under construction or ready for development across 24 sites ranging from Bournemouth to Edinburgh.
DTRE, Vail Williams and Realest are joint lettings agents for Bedrock Park.
You can learn more about Chancerygate’s development sites across the UK here.