Octopus Real Estate Funds Expansion of Port One Business and Logistics Park in Suffolk
Octopus Real Estate, part of Octopus Investments, has provided senior acquisition finance to support the expansion of Port One Business and Logistics Park in Blakenham, Suffolk, taking its total lending on the site to more than £50m.
The loan to Curzon De Vere Ltd funds the purchase of a 32.8-acre freehold site with planning permission for logistics and business use. Port One is a logistics hub on the A14 with round-the-clock direct access to junction 52 and good links to the Port of Felixstowe.
Developer Team AB is targeting zero-carbon operations, BREEAM Very Good and EPC A ratings. Planned sustainability features include solar power matching the units' expected energy use, EV charging, LED lighting and sustainable drainage. Staff will benefit from a free electric minibus and an on-site fitness and wellness centre, and materials will be reused on site to cut waste.
James Nunn, Investment Director at Octopus Real Estate, said Curzon De Vere is a valued repeat borrower and this is the fourth loan Octopus has made on the project. He pointed to the team's record in securing forward funding, development finance and occupiers, noting that the 10 units already built are fully let.
Matt Slater, Managing Director of Curzon De Vere, said the company has spent more than five years developing Port One, now an industrial park of over 1.3 million sq ft. He described the funding as a major step towards making it the leading logistics hub in East Anglia and delivering much-needed industrial space for local businesses.
