Westbrook Partners is buying a £ 172.5 million (€ 200.8 million) industry portfolio in the UK from Chancerygate and Bridges Fund Management on a futures contract.

The owner said he agreed to buy Urban Portal and City Gateway development.

The 347,177sqft City Portal, acquired from Chancerygate, includes three multi-unit repair sections located in Aston Clinton, Brackley, and Leicester. It is expected to be completed in the next 12 months.

The 485,389 sq. ft. City Gateway has three multi-unit upgrades in Edinburgh, Leeds, and Peterborough. The three projects were affiliated with Chancerygate and Bridges. These plans are completed in the next 24 months.

Mark Donnor, CEO of Westbrook Partners, said: “We are delighted that we have agreed with Chancerygate and Bridges Fund Management, at such a time.

“The 323,000 sq. ft. portion of Grade A is already experiencing strong demand for the services of the various units. JLL recommends previewing a portfolio.”

Chancerygate managing director Richard Bains said: “Our study of urban A-spread and delivery of Grade a program with strong environmental documentation has been supported by our interest in these portfolios.

Bains said the proceeds from the loss will be used to invest in speculative development opportunities while Chancerygate continues to grow in the UK.

Guy Bowden, the co-founder of Bridges Fund Management, said: “We look forward to completing this purchase, which we see as a testament to the strong will – of all financiers and citizens – for a high level of real estate development loans to investors our money and the environment.”

Translate »