Osprey Equity Partners has agreed to forward fund a £48.2m deal to develop a supermarket-led scheme in the North East.
The private investment company, which is backed by the LJ Group, will fund the 125,000 sq ft Sainsbury’s shop, petrol filling station and 3,650 sq ft KFC restaurant in Middlesbrough.
It will be developed by Terrace Hill, part of Urban & Civic plc. The project equity has been funded by Osprey’s family office investors and debt finance has been provided by Royal Bank of Scotland.
John White, co-founder of Osprey said: “The Sainsbury’s provides secure, long-dated RPI income for our family office investors.”
Knight Frank advised Terrace Hill; Osprey was not represented.
