Chancerygate to develop €25m urban logistics park in Valencia

Urban logistics specialist Chancerygate has commenced construction on its inaugural continental European project, L’Alter Business Park, located near Valencia, Spain.

Chancerygate's L'Alter Business Park CGI

This 3-hectare development, situated outside the city's flood risk zone, will deliver 20,900 m2 of Grade A sustainable multi-let light industrial and urban logistics space with a gross development value of approximately €25 mln.

L’Alter Business Park, positioned about 13 miles south of Valencia city centre, will feature nine units ranging from 750 m2 to 3,300 m2. The project is strategically located adjacent to the V-31 motorway, offering excellent connectivity to Valencia, its port, and major highways like the AP-7, which links to Madrid, Barcelona, and Alicante. Completion is anticipated in the second quarter of 2027.

All units will be constructed with high-performance materials to minimise CO2 emissions and will include electric vehicle charging points and solar panels. The project aims for minimum EPC A and BREEAM Excellent ratings and will fully comply with Spain’s updated RSCIEI fire regulations. In an environmentally conscious effort, concrete waste from an existing structure on the site is being recycled for use in the new construction.

Chancerygate Spain development director, Felipe Lainez, said: “Starting on site at L’Alter Business Park is a major milestone as it marks the first time we have broken ground anywhere in continental Europe. Valencia presents a great opportunity due to low vacancy rates and high demand from logistics companies using the city’s expanding cargo port. We are well-positioned to capitalise on this by delivering Grade A, high-specification, sustainable accommodation suitable for a wide range of occupiers and uses.”

TPF Consulting acted for Chancerygate on the Valencia site acquisition. The main contractor for L'Alter Business Park is Alcalans, whilst Fiera Real Estate has provided Chancerygate with a €14.2 mln facility for the development.