Chancerygate, the UK’s largest urban logistics property developer and asset manager has opened an office in Madrid and appointed a development director for Spain to enable its expansion into Europe.
Chancerygate has recruited Felipe Lainez from Mirastar Real Estate Investment where he was development director for southern Europe for the past four-and-a-half years.
In his new role, Felipe is driving Chancerygate’s expansion throughout Spain by initially finding and securing development opportunities in Barcelona, Valencia, Madrid, Málaga and Bilbao. He is working alongside Chancerygate’s London-based managing director, Richard Bains, European director, Jason Sharman, and European manager, Alex Houghton.
In the UK, Chancerygate currently has around 245,000 sq m of urban logistics space under construction or ready for development across 19 sites. These range from Edinburgh, Scotland, to Chichester on England’s south coast.
Chancerygate also manages in excess of €450m of assets across more than 465,000 sq m of commercial space in over 480 units throughout the UK. In addition to Madrid, the business has offices in London, Warrington, Birmingham and Bristol.
Commenting on his new role, Felipe said: “There is a huge opportunity for Chancerygate in Spain as its Grade A product and multi-let urban logistics development experience is unmatched. The opportunity to be a pioneer for Chancerygate in Spain is exciting, and I am in active, positive discussions to acquire sites in and around our target cities." The group ultimate objective is becoming the country’s most sought-after urban logistics developer.
Founded in 1995, Chancerygate entered the European market for the first time in 2022 with the €4.5m acquisition of a five-acre site in Ireland near Dublin airport. The site was acquired in partnership with London-based specialist sustainable and impact investor Bridges Fund Management.
Chancerygate European director, Jason Sharman, revealed that they are "close to securing our first development site in Spain, and also expect to be able to announce the opening of an office in Portugal soon which will enable us to target Iberia as a whole".