Chancerygate has secured planning to build 127,975 sq ft of light industrial and warehousing space in Wigston, near Leicester, which it anticipates could create hundreds of new local jobs.
Work is expected to start on the speculative development, named ‘Genesis Park’ at the end of November. The scheme will comprise 15 freehold and leasehold units ranging in size from 4,785 sq ft to 18,510 sq ft.
The scheme has a projected gross development value of around £20m and the construction contract has been awarded to Halesowen-based contractor A&H Construction.
The 5.4-acre development site is located close to the existing Tesco Superstore, Lidl and Wickes in Wigston, 5.2 miles south of Leicester city centre with good access to the M1 and M69.
Chancerygate acquired the site from a private vendor for £3m. It was previously home to Food Hub Leicester’s main facility until it was demolished in 2018.
Mark Garrity, development director and head of Chancerygate’s Birmingham office, said: “Genesis Park is a prime site in South Wigston’s well-established industrial area. With planning now approved we’re looking forward to A&H Construction starting work to help us deliver high-quality light industrial and warehousing space to the region.
“With excellent transports links, and close proximity to Leicester city centre, Genesis Park will fill a gap in the local market for warehousing space and has the potential to create hundreds of new jobs. In particular, we know there are an increasing number of businesses looking to invest in their logistics operations to help meet rising demand for rapid last mile delivery.”
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide.
The company currently has up to three million sq ft of industrial space under construction or ready for development across 23 sites ranging from Bournemouth to Edinburgh. In addition to Birmingham, Chancerygate has offices in London, Warrington, Bristol and Milton Keynes.
Avison Young and Innes England have been appointed as agents on the scheme.
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