Kier has signed a £10m agreement with AXA to forward fund the development of a new shed for Geopost in Feltham, West London.
Planning consent was given earlier this year for the site, purchased from SEGRO.
AXA’s funding is expected to deliver a 6% investment yield.
Geopost signed a prelet for the 40,000 sq ft distribution centre on a 20-year lease.
Construction for the brownfield development is due to start in mid-October and is expected to finish at the end of May 2014.
Dowley Turner Real Estate advised Kier; sbh acted for GeoPost.
chris.berkin@estatesgazette.com
