Kier Property has completed a £6m forward funding deal with Aberdeen Asset Management on its industrial development in Bracknell, Berkshire.

The 38,129sq ft scheme, already 83% pre-let to leading building supplier, Travis Perkins, forms part of Kier Property's Trade City portfolio. This focuses on delivering flexible industrial and warehouse unit solutions, with more than one million square feet having already been developed.

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Travis Perkins will allocate the space across Travis Perkins, Toolstation, City Plumbing Supplies, Tile Giant and its Benchmarx brands. The firm is paying approximately £11 per square foot and has signed up to 15 and 20-year leases. There is thought to be significant interest in the two remaining units and practical completion is expected in November 2013.

The Bracknell project is one of a number of Trade City developments that Kier Property has undertaken, backed by cash funding from Kier Group. The scheme is on the site of the old 3M building and will help regenerate this part of Bracknell, bringing a number of full and part-time jobs into the local area.

(CD/JP)