Chancerygate lines up £32m scheme after land deals

Chancerygate has acquired two adjacent sites in Leatherhead totalling 4.6 acres, where it will look to speculatively build 82,400 ft of grade A industrial and warehousing space.The plots are located off Cleeve Road in Leatherhead Business Park approximately one mile north of the town centre.Chancerygate intends to develop 13 leasehold units ranging from 3,000 sq ft to 19,000 sq ft on the land. Once complete, the scheme will have a gross development value of about £32m.The company first acquired a 3.6-acre site from a private family investor, then an adjacent one-acre plot from an international corporation. Both currently comprise office and warehouse accommodation, which will be demolished for the new development.Chancerygate head of development Alastair King said: “We’re very pleased to have secured this opportunity to develop in a prime industrial area of the South M25 quadrant.”Leatherhead’s proximity to excellent transport connections and an affluent, skilled workforce has resulted in a thriving business community, including an array of established, blue chip multi-national companies.”Our proposed development of high specification, sustainable industrial accommodation will complement the local and regional economy and stimulate further investment and job creation.”Chancerygate will submit its plans for the development to Mole Valley District Council towards the end of the year.Aston Rose advised Chancerygate on the site acquisition, while JS Land & Capital advised the vendor.