US investor Hines and their UK partner Chancerygate have acquired a Warrington site earmarked for a 100,000 sq ft speculative development.
The M62 motorway site had been in trhe handfs of developer Marshall CDP, but they have now sold to Hines/Chancerygate.
The five acre site close to junction 8 of the M62 in Warrington’s Gemini business park area will provide around 20 units ranging from 3,500 to 12,000 sq ft.
Chancerygate and Hines will submit a planning application for the development in the forthcoming months and commence speculative development as soon as possible.
Chancerygate development director Mike Walker said: “This is undoubtedly one of the best locations in the North West and it is perfect for our product. We have wanted to acquire a prime site in Warrington for a number of years because we are confident there is huge pent up demand for new, well-specified freehold units.
CBRE acted for Chancerygate on the acquisition and will be retained as joint sole agents with Davies Harrison.