Investec Bank has provided an \u00a311.3 million facility to Kennedy Wilson for the acquisition and redevelopment of an industrial open storage site in Croydon, South London. The transaction represents Investec\u2019s first financing in the industrial open storage sub-sector.<\/p>\n
The 4.6-acre freehold site at Horatius Way, formerly occupied by BT, comprises approximately 186,500 sq ft of open storage space. The property is located within the Purley Way and Beddington industrial corridor, with access to Central London, the M25 and the motorway network.<\/p>\n
The financing will support capital improvements to the site, including surfacing and security upgrades, utilities infrastructure enhancements, and subdivision to create more flexible space. The site has planning consent for industrial and storage uses.<\/p>\n
Once completed, the facility is intended to accommodate logistics operators, fleet businesses, construction firms and urban distribution companies. Kennedy Wilson plans to reposition the asset to appeal to a broader range of occupiers.<\/p>\n
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Demand for industrial open storage space in London has increased due to e-commerce growth, last-mile delivery requirements and commercial vehicle fleet electrification. Supply of well-located open storage sites in South London remains constrained.<\/p>\n
Mike Russell from Investec Real Estate said the facility \u201cmarks our debut investment in a growing subsector that is supported by attractive underlying fundamentals.\u201d He added that the structure reflects the bank\u2019s approach to providing \u201ctailored, asset-backed financing solutions that support clearly defined value-creation strategies.\u201d<\/p>\n
Joe Taylder from Kennedy Wilson said Investec\u2019s \u201cunderstanding of the industrial open storage sector and collaborative approach to structuring the facility has provided us with the flexibility and certainty required to progress our investment strategy.\u201d<\/p>\n
The transaction adds to Investec\u2019s existing portfolio of industrial and logistics asset financing, expanding its exposure to the open storage segment as institutional interest in alternative logistics assets continues to grow.<\/p>\n","protected":false},"excerpt":{"rendered":"
Investec Bank has provided an \u00a311.3 million facility to Kennedy Wilson for the acquisition and redevelopment of an industrial open storage site in Croydon, South London. The transaction represents Investec\u2019s first financing in the industrial open storage sub-sector. The 4.6-acre freehold site at Horatius Way, formerly occupied by BT, comprises approximately 186,500 sq ft of […]<\/p>\n","protected":false},"author":1,"featured_media":7819,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-7818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n