Chancerygate, Credit Suisse and Hines JV forward sells Dagenham urban logistics development

A joint venture between urban logistics developer Chancerygate, a fund managed by Credit Suisse Asset Management and global real estate firm Hines has forward-sold a 172,000-square-foot urban logistics development in Dagenham to a fund managed by BlackRock for an undisclosed sum.

Dagenham Council has approved plans to speculatively build 15 class A urban logistics and industrial units at the development, which is called Zephyr Park. The units range from 5,490 square feet to 34,670 square feet and are available for leasehold and freehold. Construction is due to commence in August this year.

The six-acre site was previously owned by wholesale electrical distributor Rexel UK. Situated on Rainham Road between the A12 and A13, Zephyr Park is located less than half a mile from Hackman Capital Partners and Dagenham Council’s proposed £300 million (€349 million/$358 million) film and TV studios.