Cain International has agreed to a €16.3m (£13.85m) senior development loan with wine merchant Lay & Wheeler for the forward funding of a new wine storage warehouse and head office near Ipswich, Suffolk.
The 114,000ft² warehouse and office will be located at Unit 6 of Port One, a major logistics park to the northwest of Ipswich offering links to the Port of Felixstowe, the UK’s largest container port, and direct access to the A14 and the wider arterial road network. Work on the scheme is expected to complete in Q4 2022. The development of the scheme is being undertaken by Curzon de Vere.
Nikos Yerolemou-Ennsgraber, director at Cain, said: “It is fantastic to work with a renowned company such as Lay & Wheeler to enable the development of a new warehouse and head office that will help drive its future success. Cain holds considerable expertise in the logistics market in both its lending and equity strategies, and we anticipate sustained demand for development finance across the sector. We also look forward to working again with Knight Frank Capital Advisory, who played a crucial role in this facility being written.”
David Isherwood, Finance Director at Lay & Wheeler, said: “Working with Knight Frank Capital Advisory, we are delighted to have secured construction finance with Cain to enable the delivery of a state-of-the-art fine wine storage facility. As we focus on a sustainable future, the benefits of a purpose-built facility will serve our producers, customers and team long into the future.”
