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Investec lend £6.25m to acquire last mile warehousing

In a move which will boost hopes of increased supply in the urban logistics sector, Investec Structured Property Finance has lent £6.25 million to acquire last mile warehousing.

Investec has funded investment manager Vengrove in the acquisition of a site comprising urban warehouses in Warrington, North West England.

The three units total 171,372 sq ft and is currently let to XPO.

The move comes as investors begin to divert resources into urban logistics, making new developments and refurbishments more likely.

During 2018 Investec has significantly increased its loan book exposure to the industrial sector, committing over £53million across five deals alongside both new and existing clients, reflecting the growing demand from domestic and international investors and developers looking to access the favourable yields on offer.

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