Joint venture reveals £20m Beeston plans

Plans to build a new 16-unit industrial and warehouse scheme worth around £20m at Trent Gateway in Beeston, near Nottingham, have been revealed.

The 6.4-acre site was bought by a joint venture between industrial developer and asset manager Chancerygate and international real estate firm Hines.

Totalling 155,268 sq ft, the proposed scheme will provide freehold and leasehold units ranging from 2,300 sq ft to 49,811 sq ft. The development is scheduled for occupation later this year.

Chancerygate development director, Mark Garrity, said: “This is an excellent acquisition for us, representing a prime location in the Nottingham area with untapped potential.

“At Trent Gateway, we will offer a broad variety of unit sizes and freehold or leasehold options, providing a very attractive opportunity to local businesses seeking to expand and nationwide operators looking to broaden their portfolio.

“Beeston has long been in need of a new high-quality development. We are already receiving interest from potential occupiers, reflecting strong demand for the excellent standard of our product and high level of service we deliver.”

Hines senior managing director and UK head, Ross Blair, added: “This is an exciting acquisition for the joint venture that will deliver a much sought-after quality industrial scheme. Our partnership combines Chancerygate’s significant industrial market expertise with Hines’ investment, development and asset management capabilities.”

FHP and Innes England have been appointed as sales and lettings agents for Trent Gateway.