Global investment organisation backs Doncaster development
Doncaster’s reputation as an investment hotspot has been endorsed with support from a major North American backer for a key development in the town.
Verdion, formerly Helios Europe, has signed an exclusive partnership with the Healthcare of Ontario Pension Plan (HOOPP) which will see work start on an ambitious inland port in Rossington, south of the town.
HOOPP is one of the largest and most successful defined benefit pension plans in Canada. With $47.4billion in assets available for pensions, HOOPP is bigger than the economies of Tunisia and Slovenia and this investment is part of its strategy to expand into Europe.
The Inland Port, known as iPort, is one of the private sector developments that will get off the ground thanks to the Finningley and Rossington Regeneration Route Scheme (FARRRS). The new link to the motorway network also unlocks growth potential at Robin Hood Airport and will deliver about 1,200 homes through Harworth Estates’ planned development on the former Rossington Colliery site.
The 6 million sq ft rail logistics project will see some 5,500 jobs created and is a significant fillip for the local and regional economy.
Mayor of Doncaster, Ros Jones, said: “HOOPP is another major investor to see the growth potential of Doncaster. We have a clear strategic vision for the town and by putting the right infrastructure in place we are supporting major private sector investment. As one of the top 100 pension funds in the world, HOOPP’s commitment to the iPort development is a real feather in our cap.”
“Doncaster is firmly on the up and overseas investment in schemes like this justifies our optimism for the future and we are looking forward to a project of European significance locating within our borough.”
Michael Hughes, CEO of Verdion, commented: “HOOPP is the absolute ideal long term partner for our company. It already heavily invests in the industrial and logistics sector in North America and has been looking for a suitable partner to expand its exposure to the UK/European logistics market for some time. With over $5billion invested in real estate, managed by a highly entrepreneurial Toronto based property team, its backing is a massive endorsement to our business and for Doncaster.”
Michael Catford, vice president of real estate, at HOOPP, said: “This is a great opportunity for HOOPP to partner with an experienced developer to create a pipeline of logistics facilities in the UK and Europe and builds on our extensive experience and investments in the industrial sector across Canada.”
HOOPP will also take a stake in Verdion’s other projects in Germany.
This was posted in Bdaily's Members' News section by David Gatehouse .
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