Port One Logistics Park, which is being developed by Curzon De Vere Limited, is approaching completion on four brand new, pre-let warehousing units, following a >£20m commercial property development loan with Secure Trust Bank Real Estate Finance. The units were constructed with eco credentials in mind, featuring significant EV charging ports and PV panels.
The 15-month funding package, which was struck in June 2022, was put together for Units 7 to 10 on the bespoke e-commerce park that is situated in Great Blakenham, Ipswich. Located just 20 miles away from the shipping port of Felixstowe, the four units were originally built and funded on a partially pre-let and partially speculative basis.
Since the deal's drawdown, all the units now have tenancies agreed, with practical completion on the final unit imminent. Within the four latest Use Class B8 units, there's an overall footprint of c. 258,000sqft. Curzon De Vere Limited has recently commenced its sales and marketing programme to a range of identified institutional investors.
This latest commercial property loan now means STB has funded the build of seven units in total at Port One Logistics Park. Richard Lynn, Senior Relationship Director at STB, led the deal directly with Matt Slater, Director at Curzon De Vere Limited, with both parties having started working together in 2020.
On why they started working with STB, Matt Slater said: "We were first introduced to Richard and STB through a broker. Richard and the team were fantastic in the way they organised the deals for the first three units we funded and developed through them during phase one of the park's build. The team's knowledge of commercial property development, along with the great relationship we have with Richard, is why we decided to reach out to Richard again for our latest expansion."
East Anglia's First Carbon Neutral Logistics Park
Port One Logistics Park is set to be East Anglia's first carbon neutral logistics park, and includes the largest building ever built in Ipswich history, with over 18 million cubic feet of capacity and 62 thousand pallet positions. The park's commitment is for all new B8 warehouses to be carbon neutral from May 2023, and Curzon De Vere Limited has invested £14m into solar roofing to produce green, renewable energy.
All new warehouses have a unique roof design to discreetly house modern photovoltaic (PV) panels, and there is over 80 acres of roofing with solar panels installed on them. These panels generate 5MW of PV energy that is unseen from the ground or surrounding countryside. All power generation can supply the warehouses' needs for high-speed car charging, office lighting and fork truck operation.
Richard Lynn said: "The Port One location has significant transportation advantages, especially given the location on the A14 West from Felixstowe with 24/7, 365 days a year access. I'm also pleased to be involved in the next phase of development which will bring sustained employment and revenue to the local area.
"We're particularly proud of having helped to fund Port One because of its carbon credentials, as this aligns with STB's sustainability values as well. The development included significant fast charging EV points and the use of the latest PV panels, with a commitment that new B8 warehousing will be zero carbon from May 2023."