The new loans include a £28.7m facility for the development of a 162,000 sq ft multi-unit industrial scheme in Swanley, to be developed on a 11.5 acre site.

Elsewhere, a separate £28.6m facility is being provided for a 70,000 sq ft logistics unit in Park Royal.

Both speculative developments are expected to be completed in early 2026.

These transactions mark the second and third financings between Eldridge and Hillwood.

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In April 2024, Eldridge provided Hillwood with a £33m facility for an industrial storage development in Crewe.

“For over two decades Hillwood has served as a best-in-class industrial developer, and we look forward to deepening our partnership with them,” said John Cole, global head of real estate credit at Eldridge Capital Management.

“This transaction brings our total lending within the industrial-logistics market to over two million square feet across the UK and Europe, and we believe we are well-positioned to continue to expand this footprint.”