With a £200m GDV, the scheme will serve as The Range’s main South East distribution hub and aims to create around 1,650 new jobs.
The development is targeting an EPC A rating and BREEAM ‘outstanding’ certification, comprising solar PV panels, air source heat pumps, smart energy systems, and 160 EV charging spaces.
The distribution centre will also play a part in the retailer’s growth strategy that will see it bolster its existing store portfolio.
Adjacent to junction 50 of the A14 — 26 miles from Felixstowe Port —it is accessible to central London by road in under two hours.
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Ed Boughton, real estate banker at Investec, commented: “Demand for high-quality logistics space has remained strong throughout the current period of macroeconomic volatility, with occupiers seeking highly sustainable buildings with excellent transport links.
“This financing is a fantastic opportunity to assist The Range with its growth ambitions.”
Alex Simpkin, CEO at The Range, added: “This is not only a major landmark in the expansion of The Range’s estate — it is positive news for the UK retail sector.
“Together with Investec’s expertise and understanding of real estate financing, we are effectively injecting millions of pounds into the economy at a time when it is much needed.”