Investec Bank plc (Investec) has announced that its real estate team has provided a joint venture (JV) between a logistics fund, sponsored by CBRE Investment Management (CBRE IM) and Chancerygate, with an £18 million senior loan for the development of a 93,000ft², Grade A industrial scheme in Croydon, South London.
Construction on ‘The Works’ started on the development in March 2025 and, once complete, it will comprise three buildings subdivided into 15 units.
These will range in size from c. 2,400ft² to c. 16,000ft², with an option to combine units, ideally suited for third-party logistics and distribution occupiers.
Features will include electric vehicle charging points, 76 secure cycle parking spaces and solar photovoltaic (PV) panels on all units, which are designed to utilise materials that maximise energy performance.
The Works is located in a predominantly industrial area to the north-west of central Croydon and 10 miles south of central London.
This facility is Investec’s first transaction with CBRE IM while Chancerygate currently has around 1.41 million ft² of urban logistics space under construction or ready for development at 11 sites across the UK.
Tom Berens, senior director and team lead for treasury and debt financing at CBRE IM, said: “Securing this loan marks a significant milestone for our fund’s growth ambitions.
“We are delighted to team up with Investec, further strengthening their long-term relationship with our JV partner Chancerygate.
“We continue to see attractive returns in the logistics sector when delivering sustainable, high-quality assets in areas with constrained supply.”
