Fiera Real Estate and Wrenbridge have acquired 1.2 hectares in Hayes, West London, for an urban logistics property with a gross development value of £50 mln (€57.4 mln).
Planning has been submitted and project delivery is scheduled in summer 2025.
The scheme will total 7,780 m2 across four units of various sizes, with flexibility to combine the units in case of need.
The Grade A logistics property will feature the highest ESG credentials with BREEAM Outstanding and EPCA+ being targeted as well as Net Zero Carbon during construction and operation.
Chris Button, fund manager of Fiera Real Estate, commented: ‘We are delighted to be delivering much needed, sustainable high-quality urban warehousing to Hayes. The scheme will make a strong contribution to the local economy, boosting local jobs. We look forward to delivering this with Wrenbridge.’
Will Jarman, associate director of Wrenbridge, added: ‘We are excited to announce our plans for the site following acquisition and push ahead with delivering a highly sustainable scheme with Fiera, which is designed to push the bar and create best in class space for a range of occupiers. We are keen for more high calibre sites for the portfolio to satisfy the capital we have to deploy.’
Hayes is a prime London logistics location, strategically positioned 24 km west of Central London, and 5 km north of Heathrow Airport, with good connections to the motorway network via the M4, and further to the M25.
The location also benefits from excellent rail links with the mainline rail station providing services to London Paddington.
This is the third acquisition for the Fiera Real Estate Logistics Development Fund UK, which has another £250 mln (€287.2 mln) under development across similar logistics sites across the UK.
M1 Agency advised Wrenbridge and Fiera on the purchase with occupational advice from Colliers.
