Industrial developer and asset manager Chancerygate has achieved a £3.6m sale of a 47,500sq ft unit at Eaton Point in Chorley, Lancashire.
Called Unit One, the building has been sold to real estate investment trust Warehouse REIT. It is currently occupied by manufacturer Tilemaster Adhesives on a five-year lease.
The wider Eaton Point development completed last October and included the refurbished Unit One and 14 new build units. It is now 95 per cent occupied with 12 of the 14 units sold. The two remaining units both comprise around 3,300sq ft.
Located within Matrix Park, Chancerygate’s Grade A development comprises 101,000 sq ft of warehouse and industrial accommodation. Eaton Point has direct access to junction 28 of the M6 and is near to junction 8 of the M61.
Commenting on the sale, Chancerygate development director and head of the company’s Warrington office, Mike Walker, said: “Unit One’s sale is further proof of Chancerygate’s entrepreneurial approach and professional capability.
“Combining development, project management and asset management expertise within one business sets us apart and allows us to act quickly to maximise commercial opportunities. Unit One is a significant sale for us as we continue to expand our company throughout the North West and beyond.”
In addition to the sale of Unit One, Chancerygate has recently sold four further units at Eaton Point. Three of these units totalling 15,350 sq ft were purchased by Kifinas Estates between March and June. They will be occupied by Patisserie by Nigel Smith, an artisan patisserie producer which supplies significant sporting events including Wimbledon and the Grand National.
In February, manufacturer of patented energy-saving systems, EnergyAce, also purchased a unit totalling 4,800 sq ft.
Mike added: “Eaton Point has proven to be a great success, with its latest occupiers providing further investment and job creation opportunities. We have strong interest in the remaining two units.”
Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. Its asset management team currently manages £220m of assets across 4.9m sq ft of commercial space in more than 350 units.
This year, the company will triple its completed developments compared with the previous year, delivering more than one million sq ft across 13 schemes compared to 340,000 sq ft in 2018. In addition to its Warrington base, Chancerygate also has offices in London, Birmingham and Milton Keynes.
Savills acted for Chancerygate and B8 Real Estate advised Warehouse REIT.