Commercial People has learned that the commercial property developer Chancerygate has acquired a Grade A industrial site in Witham, Essex.
The site, which Chancerygate intends to build approximately 58,000 sq ft of industrial and warehousing on, is the former home of the 2 Sisters Food Group.
Subject to planning approval, the 2.49-acre development will comprise ten freehold units ranging from 4,166 sq ft to 7,427 sq ft and will have a gross development value of in excess of £10.5 m.
Chancerygate acquired the site from a private vendor for an undisclosed sum and is expected to submit a planning application for the site to Braintree District Council by the end of the year.
Commenting on the site, 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. We look forward to submitting our proposals to Braintree District Council in due course.”
Witham is located approximately eight miles to the northeast of Chelmsford and 13 miles southwest of Colchester. Stansted airport is also fairly nearby, located approximately 24 miles from the site.