Hillwood has secured a £27.7m senior loan from Investec Bank to fund the development of a 248,000 sq ft Grade A industrial scheme in Northamptonshire.
The developer will speculatively build four units ranging from 10,600 sq ft to 117,000 sq ft at the Quattro Raunds scheme, which is located on the A45 corridor.
The units will feature EV charging points and PV panels and Hillwood is targeting a BREEAM Excellent rating for the development.
Armin Senoner, director debt capital markets at Hillwood, said: “We are pleased to partner with Investec on the financing of Quattro Raunds, marking Hillwood’s continued expansion in the UK logistics market. The facility underlines the strength of our platform and Investec’s confidence in our ability to deliver high quality, sustainable industrial schemes that meet occupier demand in key UK locations.”
Kezia Varkel, from Investec Real Estate, added: “We are delighted to establish a new relationship with Hillwood as they expand in the UK industrial and logistics market. This transaction reflects Investec’s commitment to backing high quality sponsors with deep expertise in delivering best-in-class industrial assets. Industrial and logistics remains a high conviction sector for Investec, and this transaction demonstrates our ability to deliver flexible financing solutions for speculative development in the space.”
