PLP has secured a £67.1m green loan from ING to fund the development of a circa 700,000 sq ft Grade A logistics park in Nottingham.
PLP Nottingham, which is located at Junction 27 of the M1, will comprise three energy efficient units ranging from 69,000 sq ft to 459,000 sq ft.
Sophie McGovern, from ING, said: “We’re delighted to be working with PLP on our first transaction together. This development combines a best-in-class location, strong sustainability credentials and a highly experienced sponsor. It is an excellent example of the type of logistics asset we are keen to support, and we look forward to building our relationship with PLP over the coming years.”
James Deane, CFO of PLP, added: “This financing enables the delivery of a best-in-class logistics development in one of the UK’s most important distribution locations. We are pleased to be establishing a relationship with ING and partnering with a lender that shares our long-term conviction in the logistics sector and our commitment to sustainable development.”
