Insights

Perfect partnership

After managing the sale of an industrial area ripe for development, new owners Chancerygate, retained Bonsors to market its units at the site which will be ready for occupation in spring 2024.

The 2.7-acre site at Red Lion Business Park, Red Lion Road, Surbiton, known as Metroplex Park, will consist of nine industrial or warehouse units available from 4,413 sq ft to 18,072 sq ft.

A net zero carbon for regulated energy development, EPC A+ and BREEAM Excellent targeted, the site’s green credentials will include electric vehicle charging points, photovoltaic panels, high performance insulated cladding and roof materials, and secure cycle parking.

With its prime location close to the A3 Kingston Bypass and Junction 10 of the M25 and onward easy access to inner London as well as surrounding areas and Heathrow and Gatwick airports, Bonsors has already received in excess of 50 enquiries from prospective tenants.

Bonsors managing director Andrew Pollard said: “We haven’t had such a significant development of industrial and warehouse units in more than a decade. It is apparent from the interest we have already received, there is pent-up demand from businesses looking for key sites in the south east which can serve London whilst benefitting from proximity to two major airports and the M25.

“The demand for industrial and warehouse units, particularly developments with easy access to the capital, was already in motion before the pandemic which accelerated the trend as consumer use of online retailing increased and it hasn’t let up.”

Ongoing partnership

Bonsors was first instructed on the site in 2015 when it was in the ownership of two private landlords but they consequently decided not to sell. Sadly, following the passing of both individuals, their families decided the time was right to sell in July 2020 and once again, appointed the Kingston-based company to act on their behalf.

Bonsors managed the sale of the site which attracted several offers before terms were agreed with Chancerygate in autumn 2020. The company had been involved with other developments stretching back to 2008 at the same site so were familiar with the industrial park, its location and its potential. Contracts were signed the following year and sale was finalised in 2022 as the transaction was subject to planning.

Since acquiring the land and with the necessary permissions in place, development is now underway. Chancerygate utilised the services of commercial real estate agents JLL to manage the acquisition. In turn, JLL retains Bonsors for services in the local area creating the synergy of partnership and smooth transfer of duties as first the sale and then the development progressed.

Andrew said: “We pride ourselves on understanding the local area and we have a solid reputation for professionalism, advice and expertise in the commercial property sector. Managing the sale with Chancerygate and the our retention to oversee the marketing and leasing of the units is testament to that and we are proud and delighted to continue our involvement with the site as it is transformed. Given the demand for such units and the interest already shown, we are confident the nine units will be let ahead of the park’s completion.”

For more details on the Metroplex Park units, email Tom Batey at thomasb@bonsors.com or call him on 0208 247 9509.