Market Leads & Opportunities
Site acquisition to pave way for landmark industrial scheme
The site of a former fuel distribution centre in Nottingham has been acquired to make way for the speculative build of 137,852 sq ft of industrial and warehousing space. The move is expected to create hundreds of jobs.Chancerygate has snapped up the former Total Petroleum site at Colwick Industrial Estate from City Estates for £19m.The developer plans to redevelop the 6.35-acre land to provide a speculative scheme of 15 freehold and leasehold units ranging from 5,920 sq ft to 23,864 sq ft. The scheme has a projected gross development value of about £20m.Neighbouring occupiers to the proposed development include Jewson, Sainsbury’s, Biffa, Nottingham Steel Supplies and Tile Tec Fireplaces.Chancerygate was advised by Gerald Eve on the site acquisition, while FHP advised City Estates. FHP and Gerald Eve will be the retained agents on the development.
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