The development – which is located at Houndmills industrial estate in Basingstoke – is under Kier Property’s Logistics City brand.

This latest loan from Investec brings its total funding to Kier Group’s Trade City and Logistics City brands to over £50m.

Once completed, the scheme will comprise three distribution centres of 22,500 sq ft, 36,000 sq ft and 49,000 sq ft.

The scheme has full planning consent, is expected to be completed by autumn 2018 and will help address Basingstoke’s lack of mid-box supply.

This funding facility adds to Investec’s recent deals with Kier Property, which includes five light industrial trade counter sites at Frimley, Sydenham, Oxford, Bracknell and Thurrock.

Other deals between Investec and Kier Property include an office building in London’s West End, three student accommodation sites, a speculative warehouse development and a large, mixed-use scheme in Reading.

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“Track record and relationships are a key feature of our lending decision making and this latest transaction with Kier highlights both aspects in full,” said Hayley Scott at Investec Structured Property Finance.

“Industrial assets are a popular sector at the moment, but picking the right sites and backing the right developers is a crucial part of the equation.

“This is now our 12^th development with Kier and we are pleased to be continuing what is a strong and enduring relationship.”

Pip Prongué, managing director for the South at Kier Property, added: “This scheme is an excellent development opportunity for Kier Property. 

“We’ve received great feedback on our product and we continue to focus on providing the right product at the right price. 

“It also demonstrates the continued strength of our relationship with Investec to find great development opportunities in great locations.”