AXA IM Alts has agreed a £20.6m (€24m) forward funding deal in the UK for the development of a manufacturing and office asset.

AXA IM Alts has acquired a site from Trebor Developments and Hillwood, on behalf of clients, and has agreed to develop the pre-let 107,660sqft facility at Central Approach, Bristol.

The property, due to complete in March 2022, will serve as a new manufacturing and office headquarters for Oxford Instruments. The manufacturing and research firm has agreed a 20 year.

To read the digital edition of the latest IPE Real Assets magazine click here.