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This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

£20mln industrial development could create hundreds of jobs

industrial and warehousing

Developer Chancerygate has won planning permission for 15 industrial and warehousing units set to be built on the outskirts of Leicester

Hundreds of jobs could be created at a £20 million industrial development set to be built on the outskirts of Leicester.

Developer Chancerygate has won planning permission for 15 industrial and warehousing units in South Wigston.

The 5.4-acre development site, named Genesis Park, will be located off Blaby Road, next to an existing Tesco Superstore and Lidl and Wickes stores.

The developer said work is expected to start at the end of this month after planning approval was granted by Oadby and Wigston Borough Council.

The freehold and leasehold units will range from nearly 4,800 sq ft to 18,500 sq ft and the construction contract has been awarded to Halesowen-based A&H Construction.

Chancerygate has revealed that it acquired the site, previously home to Food Hub Leicester’s main facility until it was demolished in 2018, from a private vendor for £3 million.

Mark Garrity, development director and head of the firm’s Midlands office, said: Genesis Park is a prime site in South Wigston’s well-established industrial area. With planning now approved we’re looking forward to A&H Construction starting work to help us deliver high-quality light industrial and warehousing space to the region.

With excellent transport links and close proximity to Leicester city centre, Genesis Park will fill a gap in the local market for warehousing space and has the potential to create hundreds of new jobs, he said.

In particular, we know there are an increasing number of businesses looking to invest in their logistics operations to help meet rising demand for rapid, last mile delivery, he said.

Founded in 1995, Chancerygate has up to three million sq ft of industrial space under construction, or ready for development, across a total of 23 sites.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.