April 12th, 2016

St Francis Group secures planning and funding deal at key logistics site

St Francis Group has secured detailed planning consent for the development of five distribution/light industrial units at Cransley Park, Kettering, totalling 270,000 sq ft and entered into a funding agreement with Rockspring Property Investment Managers LLP which will enable it to commence development.

St Francis has increased its commitment to speculative development by exchanging an agreement with a Rockspring managed fund. Construction will start on the 15 acre site in the summer and the units are expected to be delivered into the market early next year. The site is well-located at the junction of the A14 (J8) and the A43 and will offer prospective tenants a range of unit sizes from 25,000 sq ft to 100,000 sq ft. Prop Search and Lambert Smith Hampton have been appointed as letting agents.