Darlington industrial estate acquired by leading asset management firm from EE

Chancerygate, an industrial development and asset management company, has acquired a 21,757 sq ft warehouse in Darlington.

The acquisition of the warehouse - on Yarm Road Industrial Estate - was made with EE; the figure has not been disclosed.

Chancerygate is set to undertake a comprehensive refurbishment of the former data centre, which is due to be completed by ISS.

Sanderson Weatherall and Connect Property North East has been retained as the joint sole letting agents to market the space at a quoting rent of £3.75 per sq ft.

Chancerygate’s asset manager, David Tyson, commented: “This is our fifth and final acquisition that we have completed as part of our deal to purchase a number of EE data centres across the North.

“There is currently very limited new build or refurbished stock in the local market and we are confident that it will appeal to local occupiers.”

Chancerygate specialises in industrial development and asset management. It currently has more than 2m sq ft of industrial space under construction or ready to be brought forward for development and manages more than £230m of assets across the UK.

In 2017, Chancerygate has invested more than £23m acquiring 10 sites comprising 50 acres to create an ongoing development pipeline of 1m sq ft.