September 27, 2023
Kingsbridge project named Best Investment Transaction at Industrial Agents Society Awards
A Kingsbridge project to create a sustainable last-mile logistics facility been named Best Investment Transaction at a prestigious national industry awards.
The accolade, awarded by the Industrial Agents Society (IAS) recognises our scheme at 32 New Lane, Havant, which we delivered in partnership with Bridges Fund Management, a specialist sustainable and impact investor.
The IAS Awards celebrate the success and achievements of the industrial property sector across the UK, with the Best Investment Transaction category honouring investment deals ‘of particular merit’ during 2022/23.
The forward funding of 32 New Lane, Havant was one of the largest investment sales ever in the Central South, as a result of one of the largest industrial letting agreements in the region.
The project, with a £40m cost of development, was pre-let to the end user in March 2022 and a forward funding was completed with LCN Capital Partners in September that year. The £91m transaction captured close to peak market pricing despite an uncertain economic environment and was structured to finance the construction of the development.
Chris Fry, CEO at Kingsbridge, who accepted the award at a ceremony at the Marriott Grosvenor House Hotel, London, said: “The project at 32 New Lane is a textbook example of our approach – a sustainable scheme, funded with a partner who shares our values, creating a positive impact on local communities in a deal structured to maximise return on investment. We are very proud to see our success at 32 New Lane recognised in the industry with this national award.”