Chancery Gate buys Portsmouth Spec Site

Chancery Gate has bought a development site at Voyager Park in Portsmouth for a £9m speculative scheme.

As part of its continued £100m development programme and expansion into the regions, Chancery Gate has bought the site from SEGRO/Roxhill.

It is planning a £9m multi-unit industrial development which will be branded as Pioneer Park.

The three acre site will be speculatively developed to provide 70,000 square foot of warehouse and distribution units which will be available to rent or buy.

Chancery Gate’s development manager, Jonathan Lee, said “We will be creating a range of space at Pioneer Park that can provide a unit of 5,000 sq ft through to a single building of 47,500 sq ft.”

“The scheme will be available in the summer of next year and we are already getting strong interest from businesses who want to be based In this location on the east side of Portsmouth.”

Doherty Baines advised Chancery Gate on the acquisition. SEGRO and Roxhill was advised by LSH and Vail Williams.