Key Takeaways
- • Chancerygate and Hines secure planning approval for Aurora Park, a £35m grade-A urban logistics development comprising 133,500 sq ft across nine leasehold units in Redditch, Worcestershire.
- • Construction begins summer 2026 with completion targeted for Q3 2027; the scheme targets EPC 'A' and BREEAM 'Excellent' sustainability ratings, reflecting strong market demand for compliant logistics space.
- • The joint venture is funded by Hines European Real Estate Partners III (HEREP), a fund with over £1.3bn in equity commitments, signaling institutional capital backing for UK regional logistics expansion.
- • Chancerygate and Hines' partnership has delivered over 1m sq ft of workspace across eight urban servicing schemes since 2018, with management actively seeking to expand pipeline in 2026.
- • Leasehold unit sizes range from 7,685 sq ft to 22,055 sq ft, positioning Aurora Park to serve multiple occupier segments across the West Midlands logistics market.
Summary
Chancerygate and Hines have obtained planning permission for Aurora Park, a 133,500 sq ft urban logistics facility on the Moons Moat North Industrial Estate in Redditch, Worcestershire. The scheme carries a gross development value of approximately £35m and comprises nine leasehold units with flexible unit sizes ranging from 7,685 sq ft to 22,055 sq ft, designed to accommodate diverse occupier requirements.
The development represents a capital-intensive, sustainability-focused initiative targeting EPC 'A' and BREEAM 'Excellent' ratings, reflecting institutional investor priorities around environmental performance in logistics assets. Construction is scheduled to commence in summer 2026, with practical completion anticipated in Q3 2027. Planning applications were submitted in May 2025, indicating an approximately 12-month approval timeline.
The project is funded through Hines European Real Estate Partners III (HEREP), a dedicated real estate vehicle with more than £1.3bn in equity commitments. This capital structure reflects institutional confidence in the UK regional logistics market and Chancerygate's development capability. Rob Watts, Chancerygate's development manager, emphasized strong market fundamentals, noting "clear requirement across Worcestershire and the wider West Midlands for strategically located accommodation that meets the needs of a broad range of occupiers."
The Chancerygate-Hines partnership, now in its eighth year, has established a proven track record in urban logistics development. Across eight completed schemes, the partners have delivered over 1m sq ft of workspace in key regional locations. Ross Blair, senior managing director at Hines, indicated active pipeline expansion for 2026, suggesting continued institutional appetite for similar schemes in undersupplied regional markets outside London.
Joint agents M1 Agency and John Truslove & Co are marketing Aurora Park to institutional and operational occupiers seeking modern, compliant logistics space outside congested metropolitan areas.
The development represents a capital-intensive, sustainability-focused initiative targeting EPC 'A' and BREEAM 'Excellent' ratings, reflecting institutional investor priorities around environmental performance in logistics assets. Construction is scheduled to commence in summer 2026, with practical completion anticipated in Q3 2027. Planning applications were submitted in May 2025, indicating an approximately 12-month approval timeline.
The project is funded through Hines European Real Estate Partners III (HEREP), a dedicated real estate vehicle with more than £1.3bn in equity commitments. This capital structure reflects institutional confidence in the UK regional logistics market and Chancerygate's development capability. Rob Watts, Chancerygate's development manager, emphasized strong market fundamentals, noting "clear requirement across Worcestershire and the wider West Midlands for strategically located accommodation that meets the needs of a broad range of occupiers."
The Chancerygate-Hines partnership, now in its eighth year, has established a proven track record in urban logistics development. Across eight completed schemes, the partners have delivered over 1m sq ft of workspace in key regional locations. Ross Blair, senior managing director at Hines, indicated active pipeline expansion for 2026, suggesting continued institutional appetite for similar schemes in undersupplied regional markets outside London.
Joint agents M1 Agency and John Truslove & Co are marketing Aurora Park to institutional and operational occupiers seeking modern, compliant logistics space outside congested metropolitan areas.
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