A 153,000 sq ft speculative urban logistics scheme is to be built in Mitcham, one of just a handful of larger schemes inside the M25 motorway.
Investec Structured Property Finance it has agreed to provide Valor Real Estate Partners, the pan-European logistics and industrial real estate investor, with a £27 million senior loan, to fund the speculative development of an urban logistics park on the A23 at Mitcham.
Valor will redevelop the existing c. 110,000 sq ft estate into modern trade counter and mid box units ranging from 5,000 sq ft to 85,000 sq ft. The site also has the potential to cater to single tenant build-to-suit requirements.
Erin Clarke, at Investec Structured Property Finance, said: “The growing appeal of urban logistics has been well-documented as consumer habits have evolved; the rise of e-commerce and increasing demand for same day delivery make sites like this near large cities very attractive.”