Fund behind huge ‘golden triangle’ logistics scheme bags £110m loan

The owner of an enormous big box scheme in Leicestershire has received a £110m investment loan secured against the asset and a smaller site in Milton Keynes, Property Week reports.

Griffen UK – an outgrowth of South African investment vehicle Griffin Holdings managed by Griffen Capital – will use the cash from Deutsche Bank to support its strategic plans for Desford Campus and Griffen Park in Buckinghamshire.

The three units that make up Desford Campus total 1.65m sq ft and are let to US-based third-party logistics giant Neovia.

The 340-acre site is located just outside Leicester within the “golden triangle” of UK logistics, close to Junction 21 of the M1, East Midlands Airport and the M69.

Neovia employs over 1,000 people at the Leicestershire campus.

Griffen CEO Rui Nobre said that gaining the backing of Deutsche Bank represented a “strong endorsement” of the fund’s plan for its assets.

He added: “We have significant ambitions to deliver a sustainable platform that meets the demand of today’s occupier.”