ING Secures £67.1 Million Green Loan for PLP’s Nottingham Logistics Park

ING has issued a £67.1 million green loan to logistics specialist PLP, financing a 700,000 sq ft development in Nottingham. For fintech and banking professionals, this transaction underscores the growing intersection of sustainable finance and critical infrastructure, as major lenders pivot toward high-specification, energy-efficient assets that support the UK’s evolving supply chain requirements.

What was announced

The £67.1 million green loan will fund the development of PLP Nottingham, a Grade A logistics park situated at Junction 27 of the M1. The project is designed to meet the increasing demand for sustainable, energy-efficient logistics space from both domestic and international occupiers. The development’s strategic location allows for access to more than 80% of the UK population within a four-hour drive, placing it at the core of the East Midlands logistics market with direct links to national distribution networks and East Midlands Airport.

The park will consist of three distinct units, with sizes ranging from 69,000 sq ft to 459,000 sq ft. These facilities are engineered with modern specifications, including high-power capacity and generous yard depths, intended to provide operational resilience for tenants. This transaction represents the first collaboration between ING and PLP, with the developer and its investors committing significant equity alongside the debt financing to signal confidence in the project’s long-term viability.

The financing aligns with ING’s broader strategy to support the transition to a more sustainable built environment. By focusing on assets with strong sustainability credentials and lower carbon emissions, the bank is targeting infrastructure that is critical to the UK economy, particularly as e-commerce growth and supply chain modernisation continue to drive the need for high-quality logistics facilities.

"We're delighted to be working with PLP on our first transaction together. This development combines a best-in-class location, strong sustainability credentials and a highly experienced sponsor. It is an excellent example of the type of logistics asset we are keen to support, and we look forward to building our relationship with PLP over the coming years."

Sophie McGovern, Real Estate Finance, ING.

The companies involved

ING is a global financial institution with a strong presence in the UK and European markets. The bank has increasingly focused on sectors supported by long-term structural trends, such as the digitisation of retail and the modernisation of global supply chains. Its real estate finance division is a prominent lender in the logistics sector, prioritising projects that demonstrate clear environmental and operational efficiencies. ING operates across various financial segments, including retail banking and wholesale banking, and has been active in strengthening its specialised teams to manage complex market transitions.

PLP is a specialist developer and investment manager focused exclusively on the UK logistics real estate sector. Since its inception, the firm has delivered approximately 9 million sq ft of logistics space across 40 different developments. The company is known for managing the full lifecycle of logistics assets, from acquisition and development to long-term investment management. James Deane serves as the CFO at PLP, overseeing the firm’s financial strategy and its partnerships with institutional lenders. The company’s focus on sustainable development has made it a frequent partner for investors looking to deploy capital into "green" industrial infrastructure.

What FF News has reported before

ING has been active in restructuring its global leadership and expanding its physical and digital footprint. FF News previously reported on the bank's retail expansion in ING Spain Enters New Growth Phase with Massive Madrid Flagship Store Opening. The bank has also been aggressive in its recruitment strategy to bolster its technical and advisory capabilities, as seen when ING Strengthens UK Financial Markets Team with Appointment of Deloitte’s Paolo Esposito. Furthermore, the institution has focused on its insurance and franchise strategy, which was highlighted when ING Bolsters Global Insurance Strategy with Senior Hires Tom Duncan and Lauren Marshall.

What this means

This deal highlights a significant shift in how industrial real estate is appraised by major financial institutions. The "green" label on this £67.1 million loan is not merely a branding exercise; it reflects a market where sustainability is becoming a prerequisite for securing tier-one capital. As e-commerce continues to dominate, the pressure on logistics providers to reduce their carbon footprint is mounting. Lenders who can successfully integrate ESG criteria into their underwriting processes are likely to capture the most resilient assets in the market. This transaction places traditional real estate lenders under pressure to match ING’s commitment to high-specification, sustainable infrastructure or risk losing market share in one of the UK’s most robust property sectors.