Helios Properties, the specialist distribution development company run by Trevor Cartner and Mike Hughes, has formed a £150M joint venture with Slough Estates to develop large scale distribution parks. Known as HelioSlough, the 50/50 joint venture aims to develop a network of strategic distribution parks throughout the UK with each park having the potential for more than 92,900sq m of B8 (distribution warehousing) space.
Both companies have made an equity injection and after gearing HelioSlough will have an initial £150M available to invest in the sector. In addition, Helios Properties has transferred five of its development sites into the new vehicle with an aggregate development area of more than 464,500sq m.
Trevor Cartner, director of Helios, says: “Helios’ proven ability to deliver large scale development projects together with Slough Estates’ financial acumen and breadth of experience is a potent combination. We have established a powerful team at HelioSlough and aim to become a dominant force in distribution development.”
Ian Coull, chief executive officer at Slough Estates, comments: “Slough Estates has successfully developed large distribution parks in Belgium, France and Germany but this joint venture with Helios Properties will enable us to extend our distribution offering to the UK, by leveraging off previous experience and extending our network of facilities which will be attractive to our customers. HelioSLough aims to take a significant share of the market for large distribution space in the UK which we believe to be a financially attractive area for development.”
King Sturge advised the joint venture.