Chancerygate makes £60m swoop
The investment manager has acquired Birch Business Park, a 410,000 sq ft multi-let industrial estate in Heywood with consent for a further 90,000 sq ft.
B8 Real Estate represented logistics specialist Chancerygate on the 16-unit deal, with Hatrick Porperty acting for the vendor.
Place understands that the vendor was Yeargate, a business reported in late 2022 as securing consent to replace two units at the park with new-build space.
Located on Whittle Lane, Birch Business Park sits close to the M62 in a location already well established in the industrial market, and set to become even more so as Greater Manchester’s Atom Valley plans advance.
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Chancerygate head of investment management, Simon Cowley said: “This represents a strategic acquisition of an excellent asset to grow our portfolio within the resilient North West market.
“The site’s location at the heart of the Northern Gateway and proximity to key infrastructure links make it attractive to a range of occupiers serving the region and beyond.”
Founded in 1995, Chancerygate now manages in excess of £500m of investment assets in the UK comprising more than 400 units totalling more than 3m sq ft of commercial space.
In recent months, the firm has picked up an Old Trafford site for a £15m “last-mile” offer, and secured consent for 105,000 sq ft close to the the Salford Community stadium, working with CBRE IM.
