Investment News and Deals
Midlands Investment Chase Commercial Ltd enters 2008 with the acquisition of four Midlands development sites totalling 16.43 acres, for circa £5m. The first of the sites comprises 4.2 acres at Bromsgrove Technology Park and was acquired from PXP, the recently formed joint venture between Advantage West Midlands and Langtree. Chase has recently submitted plans to Bromsgrove District Council to build 18 business/light industrial units with B1(c) consent and totalling 75,240 sq ft. Atis Real and Phoenix Beard are acting for Chase Commercial Ltd, whilst PXP was represented by Thomas Lister. In a joint venture with Hortons’ Estate, Chase has purchased a four acre industrial site in Tewkesbury from AXA Sun Life plc. The site will accommodate a single unit of 71,000 sq ft and a planning application will be submitted later this month. Atis Real acted for Chase/Hortons whilst Alder King acted for AXA.		Chase has also acquired an industrial site from Leicestershire County Council. Situated at Westminster Industrial Estate, Measham, it totals 6.2 acres and will be known as ‘Westminster 42’. Here, Chase has secured planning consent for two industrial units of 59,710 sq ft and 30,958 sq ft, with B1/B2.B8 consent. Works are due to start in January with completion in autumn 2008. Gerald Eve and Atisreal acted for Chase Commercial. Finally, Chase is involved in a second Leicestershire site known as ‘Progress Point’ which forms part of the Ashton Business Park in Leicester. On this 1.75 acre site, Chase is working with English Partnerships and the Leicester Regeneration Company to build a series of small industrial units, totalling 25,500 sq ft, with B1/B2/B9 consent. Lambert Smith Hampton act on behalf of Chase Commercial. All sites are available on a freehold and leasehold basis with building works.