Industrial property developer Chancerygate has bought an industrial site in north Birmingham for £2.6 million.
The company plans to build a 12-unit speculative scheme on the land which is part of Minworth Industrial Estates.
The 3.1-acre site currently houses a 69,000 sq ft industrial building occupied by a manufacturer of construction materials.
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Chancerygate said it would apply for planning permission to build a 72,000 sq ft light industrial and warehousing scheme with units ranging from 3,270 sq ft to 12,700 sq ft.
Chancerygate, which is headquartered in London, launched its Birmingham office last year with the appointment of development director Mark Garrity.
Birmingham Commercial Property News
In May, the company purchased a 3.75-acre site at the Advanced Manufacturing Hub in Aston as part of a joint venture with international real estate firm Hines.
The team will speculatively build a 19-unit scheme there totalling 93,000 sq ft with a gross development value of £14 million.
Mr Garrity said: "We opened our Birmingham office this year as part of our strategy to capitalise on development opportunities in the West and East Midlands.
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"This approach is working well and we now have a strong pipeline in the region.
"We are making good progress in meeting our ambition of being the leading developer of multi-let industrial space in the Midlands.
"We look forward to further expanding our operations throughout the region."
Property consultancies Knight Frank and Gerald Eve acted on the deal.