Curzon de Vere has secured a new £41.2m funding facility from Eldridge Real Estate Credit to support the expansion of Port One Logistics Park in Ipswich.
Eldridge provided an earlier £16m facility to fund the construction of a circa 220,000 sq ft logistics unit at the scheme and the new £41.2m loan will support the development of an additional circa 388,000 sq ft of logistics space.
Strategically positioned within the Freeport East Zone, Port One Logistics Park benefits from direct access to the A14 at Junction 52, linking the site to the Port of Felixstowe. The park already provides more than 1.3m sq ft of fully occupied logistics space.
Nikos Yerolemou-Ennsgraber, senior director at Eldridge Capital Management, said: “Eldridge is proud to support Curzon de Vere in realising the full potential of Port One. This partnership embodies the type of enduring, value-driven relationships we strive to build – a best-in-class logistics development today while positioning our partnership for long-term growth in the years ahead.”
Matt Slater, from Curzon De Vere, added: “We strive to create a market-leading logistics park in the UK that supports exponential growth in the region’s freight and e-commerce network. Eldridge’s long-term approach and deep industry expertise is essential as we continue to scale the park over the next 10 years.”
