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Market leading property developer Chancerygate has completed a deal with Tesco for a large 5.4-acre site at Edington Way in Sidcup, on which it plans to construct a 13-unit, 120,500 sq ft warehousing development.
This new deal brings yet another significant acquisition to the company’s already impressive portfolio — with more than 32 acres purchased this year alone, work is currently underway on 580,000 sq ft of industrial space across seven schemes, and a huge additional 1.7 million sq ft is in the development pipeline.
Development director for the company, Jonathan Lee, says: “This scheme follows our redevelopment of the former Klinger Factory site in Sidcup where we presold 130,000 sq ft of space last year… We are delighted to have worked with Tesco again following our recent acquisition from them in Harlow and look forward to progressing this new project which will provide high quality space for the wide range of occupiers that are seeking space in this strategic location.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.