By Liza Helps, Property Editor, Logistics Matters

THE GRADE A logistics park known as PLP Nottingham is located at Junction 27A of the M1 motorway and will provide three units of 69,000 ft2, 172,000 ft2 and 459,000 ft2. The facilities will be built to target BREEAM Excellent and EPC A rating. Logistics Matters reported that PLP secured the 65-acre site in January this year with planning permission already secured.

The funding deal marks ING’s first transaction with PLP. ING Real Estate Finance vice president Sophie McGovern said: “This development combines a best-in-class location, strong sustainability credentials and a highly experienced sponsor. It is an excellent example of the type of logistics asset we are keen to support, and we look forward to building our relationship with PLP over the coming years.”

PLP CFO James Deane, added: “This financing enables the delivery of a best-in-class logistics development in one of the UK’s most important distribution locations. We are pleased to be establishing a relationship with ING and partnering with a lender that shares our long-term conviction in the logistics sector and our commitment to sustainable development.”

PLP and its investors have committed significant equity alongside the financing, underlining their confidence in the project and alignment with ING as a lending partner.

Logistics remains a key sector for the bank, supported by long-term trends including e-commerce growth, supply chain modernisation and increasing demand for energy-efficient facilities.

Joint agents on the site are Apex, Savills and Avison Young.