Industrial property news

• Kingsbridge will build two speculative industrial units totalling 88,000 sq ft on Cross Oak Lane in Horley

Investec Real Estate has provided Kingsbridge, a privately owned UK real estate developer, with a £15.7 million senior facility to fund the acquisition and speculative development of a logistics scheme in Horley, Surrey. The 36-month facility will finance the development of a cleared four-acre freehold site, which has full planning consent.

The scheme will comprise two Grade A mid-box industrial units of around 57,000 sq ft and 31,000 sq ft. They will be delivered to an institutional-grade specification and are designed in line with local market expectations for multi-let logistics schemes of this scale.

The development is targeting an EPC A+ rating and BREEAM Excellent certification and is located within three miles of Gatwick Airport, approximately four miles from Junction 9 of the M23, and six miles from the M25. The area is an established logistics and industrial hub, with distribution, logistics and airport-related occupiers.