Chancerygate invests €87m in multi-let industrial assets

Chancerygate has expanded its portfolio by purchasing two multi-let industrial properties, Birch Business Park and Spa Trade Park, for over £75 mln (€86.7 mln). 

Birch Business Park

These acquisitions add a total of 45,244 m2 of industrial, urban logistics, and trade counter space to their holdings. 
Birch Business Park, situated in Greater Manchester, offers 38,090 m2 across 16 units and has potential for a further 8,361 m2 development. Located in the North-West, the property benefits from excellent transport links to Rochdale, Bury, Manchester, and the surrounding areas. It was purchased from a private seller.
Spa Trade Park in Tunbridge Wells, Kent, provides 7,153 m2 of space and is home to established trade brands. The site boasts a strong tenant base, including well-known national trade counters like Howdens, Toolstation, and Screwfix, as well as Halfords Autocentres. Chancerygate acquired the asset from Delancey, a real estate asset manager.
These acquisitions bring Chancerygate's managed investment assets to over £500 mln (€578 mln), encompassing over 400 units and approximately 278,709 m2 of commercial space across the UK.
Chancerygate head of investment management, Simon Cowley, said: “Both Birch Business Park and Spa Trade Park represent excellent sites for serving occupiers in their respective localitie,s thanks to their strategic positioning near key infrastructure routes. These acquisitions further demonstrate our intent to expand our presence in the MLI market, and we are actively exploring further investment opportunities.”
B8 Real Estate advised Chancerygate on the Birch Business Park acquisition, with Hatrick Property representing the seller. For the Spa Trade Park purchase, Gerald Eve advised Chancerygate, while Savills and CBRE acted for Delancey.