Leumi UK has provided a £37.1m loan to Kier Property for the acquisition and development of two multi-let light industrial schemes in St Albans and Bognor Regis.
In St Albans, Kier Property will build a 10-unit scheme totalling 55,513 square feet, with units ranging from 4,350 to 6,550 square feet.
The site is cleared to slab level and will be built to institutional specifications, including energy performance certificate (EPC) A and BREEAM Excellent ratings.
Completion is set for May 2026.
In Bognor Regis, the project will deliver 11 industrial units ranging from 3,500 to 53,000 square feet under the Trade City and Logistics City brands.
The total development will be 204,993 square feet.
The site is shovel-ready and completion is targeted for November 2026.
Units will have haunch heights of up to 10 metres and floor load capacities of 50kN/m², with EPC A and BREEAM Excellent specifications.
Leigh Thomas, group managing director at Kier Property, said: “Leumi UK’s responsiveness and flexible approach were integral to getting this deal over the line.
“The team’s collaborative mindset and sector-specific expertise ensured we could move quickly and decisively.
“We’re excited to deliver two best-in-class developments that will meet the urgent demand for high-quality industrial assets in St Albans and Bognor Regis.”
Chris Stallard, relationship director at Leumi UK, said: “Partnering with Kier Property on our first speculative development financing in the light industrial sector is an important milestone for Leumi UK.
“This transaction reflects our expanding appetite and growing capability within the commercial real estate lending space and Kier Property’s proven track record of delivery.
“Having previously partnered with Kier Property, it also highlights our relationship-driven approach and commitment to delivering bespoke, tailored financing solutions at speed.”
