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Chancerygate Morley JV Acquires First Two Sites

LONDON-Chancerygate Morley Ventures, the new pounds 200 million ($320 million) joint venture between Morley Fund Management and Chancerygate Group, has secured its first two industrial development sites.

By Graham Parker | Updated on July 22, 2003

LONDON-Industrial specialist Chancerygate and Morley Fund Management have kicked off their new joint venture, Chancerygate Morley Ventures, by acquiring two development sites. Eventually they plan to grow a £200 million ($320 million) portfolio.

At Cradock Road, Reading, Berkshire, CMV has purchased 4.5 acres from CIN for a new speculative industrial scheme. The site is situated to the south of Reading town centre, very close to the new A33, which links directly to junction 11 of the M4 motorway A planning application is due to be submitted in the next few weeks for 106,400 sf in seven units ranging in size from 7,900 to 28,200 sf, and completion is expected in May 2004.

Cushman & Wakefield Healey & Baker advised the vendors and King Sturge advised CMV. King Sturge, Cushman & Wakefield Healey & Baker and Fryer Gilbert & Jepps are retained to market the new development.

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