26 October 2023
CBRE Investment Management (“CBRE IM”) and Chancerygate have formed a joint venture partnership to develop urban logistics schemes on behalf of an investment fund sponsored by CBRE IM.
The joint venture has secured its first development sites representing more than 450,000 sq ft. The joint venture will deliver modern urban logistics assets to high sustainability and operational standards and target BREEAM Excellent certification or better.
Toby Creamer, Portfolio Manager at CBRE IM, said: “This was an exciting opportunity to partner with Chancerygate, which has a reputation for developing high-specification industrial assets with excellent ESG credentials. The secured schemes will meet strong occupier demand in their respective markets where supply remains constrained. We believe that industrial and logistics assets will outperform the wider property market over the next five to ten years and we look forward to working with Chancerygate to bring these new high-specification logistics assets to the market.”
Richard Bains, Managing Director at Chancerygate, said: “Our partnership with CBRE IM will boost our UK expansion strategy and deliver for them a nationwide portfolio of high-quality assets. CBRE IM is a highly respected investment firm and being able to partner with them is a reflection of Chancerygate’s capability and ambition.
“Having access to a substantial amount of capital will allow us to act quickly and decisively to secure the best strategically located urban logistics sites. We have a number of sites under offer which we are very excited to report further on in due course.”Source: CBRE
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