Raunds industrial park cranked up with £27m loan

An industrial park under construction in Northamptonshire has been given a financing boost, following a deal with international finance group Investec.

Investec Bank has provided logistics real estate developer Hillwood with a £27.7 million senior loan for the development of a 248,000 sq ft Grade A industrial scheme known as Quattro Raunds, currently under construction near the A45 in Raunds.

Developers say the project will speculatively deliver four “best-in-class” industrial units, ranging from 10,600 to 117,000 sq ft, designed to meet the needs of industrial and logistics occupiers.

“We are delighted to establish a new relationship with Hillwood as they expand in the UK industrial and logistics market,” said Kezia Varkel, Investec Real Estate.

“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.”

The development incorporates a range of sustainability-focused initiatives and specifications including EV charging points and PV panels, and is targeting a BREEAM ‘Excellent’ rating, developers say.

Armin Senoner, Director Debt Capital Markets, Hillwood, added: “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.”