Puma Property Finance has provided a £15m loan to Kier Property to fund the development of a new industrial and logistics development at Sharston Industrial Estate, Wythenshawe, to the south of Manchester.
The funding will be used to develop the 97,578 sq ft ‘Trade and Logistics City Sharston’ scheme on a four-acre site, which previously housed a 130,000 sq ft warehouse building and adjacent office block with car park.
The development will also pursue certification through Puma’s Impact Lending Framework (ILF). Subject to final completion and the social criteria being achieved, Kier will be entitled to a fee reduction on the loan amount under the terms of the ILF.
Leigh Thomas, group managing director at Kier Property, said: “Sharston is a strong South Manchester location and a great fit for our Trade & Logistics City platform. This new nine-unit, Grade A scheme has been designed to offer flexibility for occupiers, from smaller trade counter space through to a mid-box unit with its own yard and access. We’re pleased to be working with Puma Property Finance again on a facility that supports delivery of high-quality industrial space and targets strong sustainability outcomes, including BREEAM Excellent and EPC A.”
Kent Lawrence, senior manager at Puma Property Finance, added: “We’re pleased to support Kier Property on a second facility following the successful delivery of their scheme in Milton Keynes. At Sharston, Kier is delivering a well-located, multi-let Grade A industrial and logistics development designed to meet a wide range of occupier requirements. This partnership reflects our confidence in Kier’s track record and our continued focus on backing proven sponsors delivering best-in-class space.”
