Barwood Capital, the Northampton-based U.K. regional real estate investment and development specialist, in a 50-50 joint venture with Merseyside Pension Fund, following completion of its due diligence in February, has agreed on a £17.6 million (€20.19 million/$22.34 million) funding package for the Tungsten Park project in Bardon, an 11.25-acre site in Leicestershire.
Tungsten Properties will speculatively develop a four-unit industrial scheme totaling 200,550 square feet, which is located near Junction 22 of the M1, an established prime logistics location, which has 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 U.K. regional property, driven by significant ongoing changes in technology, infrastructure and demographics and which, to date, has raised £49 million (€56.22 million/$61.15 million).
This is the first time that Merseyside
