Valor Real Estate Partners, a pan-European industrial property investor, will be making use of a 48-month loan, agreed at up to 65 per cent loan-to-cost, which will cover the planning, development and stabilisation periods.
Valor bought the site at the start of the year and plans to redevelop the existing estate into a range of units from 5,000 square feet to 85,000 square feet, which it says will be suitable for a “diverse range of occupiers”.
Investec noted that since the start of last year it had significantly ramped up its lending within the industrial sector, committing more than £160m across nearly 20 deals.
Erin Clarke, structured property finance relationship manager at Investec, said this deal was an opportunity to partner with a “highly experienced logistics investor and developer” that could deliver the project from the planning consent stage all the way to completion.
“The growing appeal of urban logistics has been well-documented as consumer habits have evolved; the rise of e-commerce and increasing demand for same day delivery make sites like this near large cities very attractive,” she added.