Plans revealed for £20m, 16-unit industrial scheme at Trent Gateway, Beeston, by developers Chancerygate and Hines

Developers have announced plans to build a new 16-unit industrial and warehouse scheme worth around £20m at Trent Gateway in Beeston, near Nottingham.

The 6.4-acre site was purchased by a joint venture between industrial developer and asset manager Chancerygate and international real estate firm Hines.

Totalling 155,268 sq ft, the proposed scheme will provide freehold and leasehold units ranging from 2,300 sq ft to 49,811 sq ft. The development is scheduled for occupation later this year.

Located within the 48-acre Beeston Business Park, Trent Gateway is in a prime industrial and office location offering fast access to junction 25 of the M1, Beeston Railway Station and East Midlands International Airport.

Beeston Business Park is already home to SMS, one of the region’s largest electronics manufacturers, and subsidiaries of global leader in digital transformation, Atos. These include payment and transaction services provider Worldline and communications software and services brand Unify.

Commenting on the site acquisitions, Chancerygate development director, Mark Garrity, said:

“This is an excellent acquisition for us, representing a prime location in the Nottingham area with untapped potential.

“At Trent Gateway, we will offer a broad variety of unit sizes and freehold or leasehold options, providing a very attractive opportunity to local businesses seeking to expand and nationwide operators looking to broaden their portfolio.

“Beeston has long been in need of a new high-quality development. We are already receiving interest from potential occupiers, reflecting strong demand for the excellent standard of our product and high level of service we deliver.”

Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. This year, the business 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.

Hines senior managing director and UK head, Ross Blair, added:

“This is an exciting acquisition for the joint venture that will deliver a much sought-after quality industrial scheme. Our partnership combines Chancerygate’s significant industrial market expertise with Hines’ investment, development and asset management capabilities.”

Hines manages a combined UK commercial property portfolio worth more than £2bn and has advised on more than four million sq ft of projects acquired, completed or in the pipeline. The businesses announced an equal JV partnership in September 2018.

FHP and Innes England have been appointed as sales and lettings agents for Trent Gateway.

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