Fiera backs Chancerygate’s Torque with £36m package
The global asset manager’s debt strategies arm has provided a senior debt facility to the industrial specialist and its partner Bridges Fund Management to deliver a 270,000 sq ft multi-let development in Erdington, Birmingham.
Fiera Real Estate Debt Strategies is an affiliate of Fiera Capital Corporation, a global outfit with US$117.6bn in assets under management.
The Chester Road project – a £77m scheme in total – will transform the 12-acre former GKN Driveline factory site into a grade A development comprising 22 units across 270,000 sq ft, with individual unit sizes ranging from 4,500 sq ft to 33,000 sq ft.
According to the scheme website, units will be available from Q1 2026. Planning permission was secured early this year.
BREEAM Excellent and EPC A status are sought for the scheme, which has been forward-sold as part of a 750,000 sq ft multi-asset sale to Indurent. The site is located less than 5m from Birmingham city centre close to Junction 5 of the M6.
Nearby occupiers include Jaguar Land Rover, Volvo, and Selco.
Richard Howe, managing director and co-head of European real estate debt at Fiera Real Estate, said: “We are delighted to complete this facility with Chancerygate, one of the UK’s leading developers of multi-let industrial estates.
“Project Torque is exceptionally well located to capture growing demand for high-quality, sustainable industrial space in the West Midlands, where supply remains constrained. This investment aligns with our strategy to back experienced sponsors delivering high-specification real estate projects in structurally supported markets.”
Shreeya Panchal, head of FP&A at Chancerygate, said: “There is high demand from SME occupiers in Birmingham and throughout the West Midlands for high-quality, sustainable Grade A urban logistics and MLI accommodation.
“Our development, Torque, will help satisfy this demand and transform a site in an established industrial area with excellent infrastructure links into new employment uses.
“We are pleased to have Fiera’s support which will enhance our partnership with Bridges to provide a lasting economic asset for the region.”
Chancerygate and Bridges Fund Management are also working together in Leeds, on a similar-scale multi-let scheme – T45 will comprise 223,000 sq ft across 23 units, with a GDV of £46.5m. This scheme has also been sold to Indurent.
