Aberdeen Asset Management And Exton Estates Acquire Chelmsford Britvic site

May 20, 2016

Aberdeen Asset Management and development partner Exton Estates have acquired the 11-acre former Britvic site in Westway, Chelmsford from Chelmsford City Council and plan to develop a 180,000 sq ft retail and business park.

Aberdeen and Exton plan to submit an outline planning application later this summer for a 50/50 split retail and business park with 90,000 sq ft of retail units, targeted at major food and furniture retailers, plus 90,000 sq ft of business/industrial units.

Subject to planning, it is envisaged that work will commence towards the end of the year, with the first units available in Autumn 2017.

Kerri Hunter, Fund Manager at Aberdeen Asset Management commented: “We are delighted to have secured this strategic site and appointed Exton Estates as our development partners. The supply/demand characteristics within Chelmsford are favourable for both retail and industrial, making it a good time to undertake the development. We will be creating a high quality investment let to major occupiers on long leases that will become a core hold for the fund.”

Stuart Bedford of Exton Estates added: “ This is a prime edge of city site that will prove ideal for big box retailers and warehouse/industrial occupiers given the excellent transport links.”

Exton Estates has a strong track record in development management and has successfully partnered with Aberdeen Asset Management on previous sites at Taplow and Stockley Park.

Griffiths Eccles and DTRE advised Aberdeen Asset Management and Exton Estates. JLL advised Britvic.

 

Latest News

BLUEBOOK EXPANDS AGENCY TEAM

May 10, 2021 - 09:41

London Office specialist Bluebook has expanded its agency team with the recruitment of Tor Cuming and Ollie Pardoe from Avison Young and Cluttons respectively. Tor joins as an Associate and Ollie as a[...]

+ Read More

TURNSTONE ESTATES SELLS SAFFRON WALDEN SITE TO OWNER OCCUPIER

April 9, 2021 - 14:12

Turnstone Estates has sold a 1.3-acre development site on Ashdon Road, Saffron Walden to tool and plant hire company GR8 who intends to build out 20,500 sq ft of commercial space of which about 7,000 [...]

+ Read More

ROB TUDOR TO SET UP NEW BUSINESS

April 9, 2021 - 14:11

Rob Tudor, one of the most high-profile UK investment agents, has left the business he established 25 years ago to set up a new agency, Tudor Real Estate (TRE),  with his daughter Abigail Tudor and[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR