Langley Park
Multi-let Industrial and mixed-use
Development
The Chippenham site is 17.74 acres and planning was successfully achieved in 2017 for the demolition of existing disused warehouse/industrial for development into 400 residential units, 69 key hotel (pre-let to Travelodge), café, and associated retail & industrial. Phase 1 (Travelodge and Aldi) were developed and sold in 2019. The remainder of the sites land disposal is due to complete in Q2 2021.
The Langley Park site comprises 62,896 sqm of multi-let industrial with a WALT of 6.2 years.
The group acted for the owner, purchasing the site as an asset management opportunity, a standing investment with multiple opportunities to improve income stream(Langley Park), and repositioning planning consent on a substantial town centre development site(Chippenham site).
Key Figures
Location: Chippenham, United Kingdom
Acquired: 2014
Size: 47.9 acres
Use Class: Industrial, Hotel, Residential
Fair Value: £35-40m
Status: Part disposal and income retention