UK property firm Curzon De Vere has secured a £50m (€60m) loan from Octopus Real Estate to help fund the expansion of a business and logistics park project in Suffolk.
Octopus Real Estate said it has provided the senior acquisition financing to help with the acquisition of the 32.8-acre freehold site, intended for the expansion of the Port One Business and Logistics Park, in the port town of Ipswich.
James Nunn, investment director at Octopus Real Estate, said: “Curzon De Vere is a valued repeat borrower, and this marks the fourth loan we have provided for this exceptional project. The team has a proven track record of securing forward funding, arranging development finance, and attracting tenants and buyers.
“With 10 units already constructed and fully occupied, Port One has established itself as a key player in the logistics market. We look forward to the continued success of this development and the benefits it will bring to our investors and the wider community.”
Matt Slater, managing director at Curzon De Vere, said: “We have a strong track record in the logistics sector and have dedicated over five years to developing Port One, now an industrial park spanning more than 1.3m sqft.
“The funding provided by Octopus Real Estate will enable a significant expansion of the site, marking a major milestone in our goal to establish the premier logistics hub in East Anglia. The site benefits from an outstanding location with excellent transport links, making it an ideal base for logistics operations.”
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