Hines, the US-based real estate firm, has entered into a new joint venture partnership with Chancerygate, the industrial developer and asset manager which has a Warrington office.
The two companies have joined forces in a 50-50 partnership which will target prime sites across the UK for high-quality urban logistics developments to meet the growing demand for last-mile logistics and owner-occupied units.
The joint venture brings together the market expertise and development track record of Chancerygate with the investment, development and asset management capabilities of Hines.
The partnership has already secured three sites which it intends to make announcements on soon.
An initial £100m has been earmarked for investment, with further funding available as opportunities arise.