Investec backs Hines and Chancerygate with Oldham logistics development loan

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investec

Investec Bank plc, a leading international financial services provider, today announces that its Real Estate team has provided a senior development loan to long-standing clients Hines and Chancerygate to fund a speculative urban logistics development in Oldham, near Manchester, totalling 166,500 sq ft.

The Oldham financing forms part of Investec’s wider partnership with Hines. Separately to Investec’s sector-wide activity, over the past two years Investec has supported Hines across investment and development facilities for UK industrial and logistics projects totalling just under £300 million in gross development value (GDV).

The facility has been structured to support the delivery of a new Grade A multi-unit urban logistics scheme, delivered through a joint venture between Hines and Chancerygate, with Chancerygate acting as development manager.

The scheme will target occupational demand driven by constrained supply across the Greater Manchester urban logistics market, with unit sizes designed to meet a broad range of tenant requirements.

Tom Griffiths, Investec Real Estate, said:

“This latest facility demonstrates Investec’s ability to support Hines and Chancerygate across multiple projects and capital requirements, providing funding solutions that help maintain momentum from acquisition through development and stabilisation.

For Oldham, Investec’s understanding of sponsor priorities and delivery considerations enabled a pragmatic structure that supports efficient execution of a scheme designed to meet strong regional demand for well-located industrial space.”

Ryan Craig, Chief Financial Officer, Chancerygate, said:

“Investec’s deep sector knowledge and ability to execute reliably continues to add value across the development pipeline.

Their approach to structuring finance is aligned with delivery realities, and this facility supports the timely delivery of a scheme that responds to sustained demand for high specification, energy-efficient urban logistics accommodation in Greater Manchester.”

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