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Commercial Property

Multi-million pound boost for Leicestershire business park scheme

Joint venture to plough almost £18m into Tungsten Park project

Tungsten Park at Bardon will deliver 200,000 sq ft of new industrial space(Image: Blink Image)

A project to create new industrial units in Leicestershire have been given a boost of almost £18 million.

A joint venture, consisting of Barwood Capital and Merseyside Pension Fund, has agreed a £17.6 million funding package for the Tungsten Park project in Bardon.

The scheme will see Tungsten Properties speculatively develop industrial units totalling just over 200,000 sq ft on an 11.25-acre site near Junction 22 of the M1.

The area is already an established prime logistics location with occupiers including Amazon, Bunzl, DHL, Nestlé and Volvo.

The investment is through Barwood Capital’s Growth Fund IV, a five-year closed ended fund that is investing in 海角视频 regional property, driven by significant ongoing changes in technology, infrastructure and demographics and which to date has raised £49 million.

The development will be near to Junction 22 of the M1(Image: Spacecraft Consulting)

This is the first time that Merseyside Pension Fund has entered a joint venture with Barwood Capital.

Ed Henson, director at Barwood, said: “Our investment in Tungsten Park Bardon has meant that we have secured a fundamentally core industrial warehouse site at a good value where there is limited supply and strong, long-term demand.

“Alongside Merseyside Pension Fund, we hope to play an important part in providing regional jobs and investment despite the challenges that Covid-19 has brought during such a difficult time for the economy and all households across the 海角视频.”