Investor sinks £80 million into Suffolk warehouse

By Liza Helps Property Editor Logistics Matters

THE FINANCING package is to fund the development of the BREEAM Outstanding state-of-the-art distribution centre in Suffolk, which will feature solar PV panels, air source heat pumps, smart energy systems and 160 active EV charging spaces.

The Range’s £200 million main South East of England distribution hub is expected to create around 1,650 new jobs. It is located at Mid Suffolk Council’s 200 acre Gateway 14 scheme in Stowmarket, Suffolk which is being developed by Jaynic.

Norton Group is a long-standing client of Investec and this first real estate debt transaction broadens the relationship between the two parties.

Investec Real Estate’s Ed Boughton said: “Demand for tenant critical, high quality logistics space has remained strong throughout the current period of macroeconomic volatility, with occupiers seeking highly sustainable, best-in-class buildings with excellent transport links. This financing is a fantastic opportunity to assist The Range with its growth ambitions.”

The Range CEO Alex Simpkin, added: “This vast distribution centre is one of the biggest warehouse developments in the UK in the last five years and will allow us to expand to further locations around the UK, delivering new jobs and store openings, as well as providing an even better service in store and online for customers by allowing us to expand our product offering and that of the newly acquired Wilko brand.”

The Range opened its first store in 1989 and now has over 210 stores nationwide as well as large distribution centres in Bristol and Doncaster.