Panattoni has secured a £54m loan from South Yorkshire Pension Fund to bring forward 770,000 sq ft scheme near Doncaster.
It is understood to be the pension fund’s largest facility allocated to a single project since its inception in 2019.
The scheme, known as Central A1(M), is targeting best-in-class environmental credentials, including BREEAM Outstanding and EPC A, with net-zero carbon in construction.
George Graham, fund director at South Yorkshire Pensions Authority, said: “The northern industrial and logistics market is one of the most resilient in the country, reporting growth in take-up and decreasing availability of space.
“Market conditions are therefore not only favourable for this development, but it will also benefit greatly from its environmental credentials and connectivity in an established region.”
Andrew Antoniades, head of lending at CBRE which advised the pension fund on the deal, said: “This new loan is a strong investment for our South Yorkshire lending programme to a best-in-class sponsor and will drive job creation and economic growth in the area. Providing flexibly structured debt finance is crucial to our offering and we continue to have strong appetite for loans across all key asset classes with similar attractive characteristics.”
Image © Panattoni
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