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Transactions - SEPTEMBER 15, 2020

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Credit Suisse, Chancerygate and Hines JV submits plans for U.K. business park

by Released

A joint venture between a fund managed by Credit Suisse Asset Management Global Real Estate, Chancerygate and Hines has submitted plans to speculatively build a 350,000-square-foot business park in Bracknell, England.

Called Network West, the 18.75-acre site is currently home to the headquarters of Hewlett Packard Enterprise U.K. The current planning application will see 24 units ranging from 3,500 square feet to 43,000 square feet built on the site, with the developers also able to accommodate larger bespoke units up to 350,000 square feet.

The joint venture was set up by the three entities specifically to deliver the Network West development and its initial purchase of the land was one of the largest deals of its type within the M4/M3 corridor last year.

The proposals for Network West are to provide speculative industrial, warehousing and logistics accommodation, while its comprehensive power infrastructure and fiber connectivity also makes the site suitable f

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