Kier Property has secured a £37.1m loan from Leumi UK for the acquisition and development of two multi-let light industrial assets in St Albans and Bognor Regis.
In St Albans, Kier will deliver a 10-unit scheme totalling 55,513 sq ft under its Trade City brand, with unit sizes ranging from 4,350 sq ft to 6,550 sq ft.
In Bognor Regis (pictured), the 204,993 sq ft consented scheme will provide 11 industrial units ranging from 3,500 sq ft to 53,000 sq ft under Kier’s Trade City and Logistics City brands.
Leigh Thomas, group managing director at Kier Property, said: “Leumi UK’s responsiveness and flexible approach were integral to getting this deal over the line. The team’s collaborative mindset and sector-specific expertise ensured we could move quickly and decisively. We’re excited to deliver two best-in-class developments that will meet the urgent demand for high-quality industrial assets in St Albans and Bognor Regis.”
Chris Stallard, relationship director at Leumi UK, added: “Partnering with Kier Property on our first speculative development financing in the light industrial sector is an important milestone for Leumi UK. This transaction reflects our expanding appetite and growing capability within the commercial real estate lending space and Kier Property’s proven track record of delivery. Having previously partnered with Kier Property, it also highlights our relationship-driven approach and commitment to delivering bespoke, tailored financing solutions at speed.”
