Arrow Capital has forward-funded the development of a 248,000 sq ft logistics unit in Corby, Northamptonshire, in a deal understood to be worth more than £20m.
Corby 248 would be developed at Midlands Logistics Park by a JV between Mulberry Developments and Frogmore and ready for occupancy by April 2021.
Katherine Parker, head of investment management Europe at Arrow, said: “Corby 248 is superbly located and we look forward to developing the site to deliver a best-in-class asset in a supply-constrained market.”
Mark Day, development director at Mulberry, added: “Midlands Logistics Park has proven Corby’s standing as a warehouse location and Corby 248 will build on that success.”
Arrow Capital was advised by Avison Young on the forward-funding deal.