Investec has financed its Trade City joint venture with Kier Property to purchase and develop an 11.6-acre site in Thurrock, Essex.
As part of the project, Investec will extend a £20m loan to the jv – which invests in and develops industrial sites across the UK – to kick-start development of the Essex scheme.
The scheme will comprise 12 trade counters ranging in size from 4,000 to 11,000 sq ft each and a “logistics city” of four large sheds of between 40,000 sq ft and 50,000 sq ft.
This is the fifth industrial development scheme started by the jv to date. The first two completed in July 2015 and were sold on immediately.
The second pair of developments are in Bracknell, Berkshire and Oxford and are due to complete in March and May 2016 respectively.
Mark Bladon of Investec Structured Property Finance said: “There is robust demand for prime industrial and logistics space with excellent connectivity and proximity to major urban locations.”
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