Kier Property has launched a new joint venture (JV) with financial services giant Investec Bank to develop urban logistics assets with a gross development value of £400m.
The new Investec Realis JV announced its first project would be turning a 4.4-acre former office site in Hemel Hempstead, Hertfordshire, into a seven-unit trade and logistics park, providing 8,100 square metres of modern industrial space.
Kier Property group managing director Leigh Thomas said: “This first acquisition on behalf of this new joint venture with Investec is a significant opportunity to deliver a sustainable and high-quality trade and logistics development in a prime location.”
In a statement, the J