Chancerygate invests €37.4m in Surrey logistics development

Chancerygate has acquired two adjacent sites totaling 4.6 acres in Leatherhead, Surrey, to speculatively build 82,400 square feet of class A industrial and warehousing space.

The U.K. sites are located off Cleeve Road in Leatherhead Business Park about one mile north of the town center and one mile east of Junction 9 of the M25. Chancerygate intends to develop 13 leasehold units ranging from 3,000 square feet to 19,000 square feet.

Once complete, the scheme will have a gross development value of about €37.4 million ($40 million). The company first acquired a 3.6-acre site from a private family investor then an adjacent one-acre site from an international corporation. Both sites currently comprise office and warehouse accommodation that will be demolished for the new development. All values relating to the acquisitions are undisclosed.

Alastair King, Chancerygate head of development, said, “We’re very pleased to have secured this opportunity to develop in