Property developer Wrenbridge and Fiera Real Estate have teamed up to acquire a prime site in Waltham Cross, north of London.
The scheme will comprise a first-floor office at 539 m2 and first floor mezzanine at 595 m2, in addition to dock doors and high floor loading capacity.
The project will feature an energy-efficient design, aiming for EPC A+, Net Zero Carbon construction, and BREEAM Excellent ratings.
Chris Button, fund manager of Fiera Real Estate, commented: ‘This prime site represents the sixth acquisition for FRELD and adds to the exciting portfolio we are developing for our institutional investors. We have significant further cash resources to buy 1.2-10.1 hectare sites for the speculative industrial and logistics development in all regions of the UK.’
Harry Gibson, associate director of Wrenbridge, added: ‘We’re delighted Fiera have backed us on another prime southeast logistics site this year. This takes our tally for 2023 to five deals with a value of £225 mln (€261 mln). This is our third deal locally and we look forward to preparing a planning application in the new year to be on site as soon as possible.’
Located on Britannia Road's established industrial estate, this strategic North London site benefits from proximity to both the M25 and Waltham Cross station for convenient access to Central London. Strong demand for mid-box developments, evidenced by record rents, further strengthens the site's potential.
This is the sixth acquisition for the Fiera Real Estate Logistics Development Fund UK which plans to invest a further £200 mln (€232 mln) in similar logistics sites across the UK.
