Business news

Ulster Bank backs multi-million-pound investment in Portadown logistics project

Posted By: Ulster Bank

26th May 0352

New logistics delivery station to benefit from EV charging points capability

Construction and property group Turkington has revealed a multi-million-pound investment, supported by Ulster Bank, which has led to the expansion of James Park in Portadown through the development of a 7,000 square metre logistics warehouse at the Mahon Road site.

The warehouse facility was developed by Turkington Group with funding facilities provided by Ulster Bank.

The new logistics hub includes a state-of-the-art distribution warehouse with supporting infrastructure now being added that will future proof the development. This involves the inclusion of infrastructure for electric vehicle (EV) charging points.

Gary Barr, Relationship Director, Real Estate Finance, Ulster Bank, says: “Benefitting from nearby access to major arterial routes, James Park is now an essential gateway and distribution hub to service the county Armagh area and beyond. Its development aligns with our commitment at Ulster Bank to support strategically important real estate investments that contribute to the local economy.”

Richard Bradley, Associate Director, Real Estate Finance, Ulster Bank, adds: “An essential part of determining the viability of real estate investments is the surrounding facilities that will ensure their long-term sustainability. To that end, the introduction of a comprehensive network of EV charging stations will complement the existing warehousing and logistics operation. They will serve to futureproof the site and sustain its appeal as a high-value asset.”

Gary Turkington, Operations Director, Turkington Group, comments: “The facilities with Ulster Bank are central to our core development strategy for the Portadown logistics centre and surrounding lands. The project at Portadown follows closely behind the redevelopment of Marlborough Retail Park, Craigavon, redevelopment of High Street Mall, Portadown and also the construction of the new Range Store at The Boulevard in Banbridge. We value our relationship with Ulster Bank and look forward to working with them in the future on similar development projects”.

Ulster Bank was advised by TLT and Avison Young and the Turkington Group was advised by Carson McDowell.