Hines and Chancerygate are to speculatively build a 350,000 sq ft business park, having acquired a 23-acre site in Bracknell, Berkshire.
The firms entered into a joint venture with a fund managed by Credit Suisse Asset Management Global Real Estate to buy the site, currently home to Hewlett Packard Enterprise UK’s headquarters.
The three entities set up the jv specifically for the deal. The purchase is one of the largest land deals within the M3 and M4 corridor this year.
The proposed business park will be promoted for industrial, warehousing and logistics purposes, as well as