Danescroft and Fiera Real Estate have acquired a 2.3-hectare site in Edmonton from the London Borough of Enfield with the aim of constructing a 12,077 m2 urban logistics facility.
Valued at approximately £68 mln (€81 mln), the Claverings Industrial Estate will feature seven flexible units, ranging from 929 m2 to 2,787 m2, each with a 10-metre height and up to 35 metres of yard space.
Consistent with the company's commitment to sustainability, the development will target an ESG exemplar specification, including EPCA+, Net Zero Carbon construction, and a BREEAM Excellent rating.
Dominic Fryer, CEO of Danescroft, commented: ‘We are extremely excited to have purchased Claverings Industrial Estate, a complex site that is very much in need of regeneration to provide highly sustainable, best-in-class industrial and logistics space, which will create new employment opportunities and support Enfield’s economic development within a key employment zone. We are extremely acquisitive and are always on the lookout for similar opportunities.’
Chris Button, head of Investment Management at Fiera Real Estate, added: ‘Ask me to define a prime urban logistics site and I would show you Claverings. Precisely the sort of industrial regeneration opportunity that FRELD was set up to undertake and Edmonton is crying out for.’
Strategically located near Meridian Water, the site offers transportation links via the A10, A406, and M25. With a 26-minute train journey to Liverpool Street, the area offers convenient access to central London.
This is the tenth acquisition for Fiera Real Estate's logistics fund, which has additional capital allocated for small and mid-box urban UK sites.
