Investec has provided a senior development facility to Hines and Chancerygate to fund a 166,500 sq ft speculative urban logistics scheme in Oldham, as it continues to expand its lending activity in the industrial and logistics sector.
Investec Bank said its real estate team has agreed the loan for the Greater Manchester development, which will be delivered through a joint venture between Hines and Chancerygate.
Chancerygate is acting as development manager on the scheme, which is being brought forward as a Grade A multi-unit urban logistics development aimed at occupiers seeking well-located space in a supply-constrained market.
The lender said the Oldham transaction sits within its broader relationship with Hines. Over the past two years, Investec has supported Hines on UK industrial and logistics investment and development facilities with a combined gross development value of just under £300 million.
Investec also said it has lent £454 million to the UK industrial and logistics sector since the start of 2025.
The Oldham scheme will total 166,500 sq ft, with units designed to appeal to a range of occupiers as demand for urban logistics space remains firm across Greater Manchester.
Tom Griffiths, Investec Real Estate, says: “This latest facility demonstrates Investec’s ability to support Hines and Chancerygate across multiple projects and capital requirements, providing funding solutions that help maintain momentum from acquisition through development and stabilisation.
“For Oldham, Investec’s understanding of sponsor priorities and delivery considerations enabled a pragmatic structure that supports efficient execution of a scheme designed to meet strong regional demand for well-located industrial space.”
Ryan Craig, chief financial officer at Chancerygate, adds: “Investec’s deep sector knowledge and ability to execute reliably continues to add value across the development pipeline.
“Their approach to structuring finance is aligned with delivery realities, and this facility supports the timely delivery of a scheme that responds to sustained demand for high specification, energy-efficient urban logistics accommodation in Greater Manchester.”
