Monday 20th September 2021
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Strong demand for industrial space prompts £10.5 million speculative scheme in Essex

Strong demand for industrial space prompts £10.5 million speculative scheme in Essex

Developer Chancerygate has acquired a former food industry site in Witham in Essex where it plans to build a speculative scheme of around 58,000 sq ft of Grade A industrial and warehousing space with a development value of over £10.5 million.

Subject to planning, the 2.5-acre development (right) will have ten freehold units ranging from 4,166 -7,427 sq ft. Chancerygate acquired the former 2 Sisters Food Group site on the Freebournes Road Industrial Estate from a private vendor and expects to submit a planning application by the end of the year. Chancerygate development manager Matthew Young said: “The site provides us with an excellent location to build our highly specified Grade A industrial and warehousing units. Our intention is to deliver a development that will support job creation and provide Witham much needed new units. With a limited supply of new build freehold units within Essex, and along the A12 corridor, we are confident there will be strong demand for our units from both local and regional businesses.”

Elsewhere in the region, property agent Eddisons is seeing strong interest in a new development of light industrial/warehouse units and office suites at Parigan Business Park in Peterborough. The scheme involves nine light industrial/warehouse units and two office units next to the A1(M) and Peterborough Parkway system. Eddisons director Julian Welch said: “This is the first new development in Orton Southgate for some time, and will provide much needed high quality new-build small light industrial, warehouse and office premises in this premier location. We are already seeing strong interest in the scheme and expect a number of units to be reserved prior to completion of the development in December this year”.

 

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