Lothbury Investment Management has committed to a £10.5m forward funding of Chancerygate’s development of a 43,500 sq ft warehouse in Poyle, Berkshire.
The single-storey shed will occupy a site near junction 14 of the M25 and will complete by summer 2016.
Lothbury senior fund manager Mike Toft said: “Poyle Central fits very well within our portfolio of core assets. It is in a strategic location and, once let, will produce a healthy income yield. There is a restricted supply of and high demand for industrial property in the environs of Heathrow and the asset will provide us with excellent rental growth, particularly with Heathrow’s likely expansion.
“This will be an ideal site for businesses supplying operators at the airport, from logistics and cargo companies to catering businesses. We look forward to working with Chancerygate, a respected developer with a proven track record.”
Deloitte acted for Lothbury Investment Management; Chancerygate was advised by DTRE.
