Fiera Real Estate and Wrenbridge have acquired a 2.6 acre site in Waltham Cross on which they intend to speculatively build a 60,473 sq ft urban logistics unit with a GDV of circa £25m.
The unit will feature 5,802 sq ft of first floor office space and a 6,405 sq ft first floor mezzanine.
Fiera and Wrenbridge are targeting EPC A+, net zero carbon in construction and BREEAM Excellent for the unit, which will be built on an established industrial estate on Britannia Road.
Chris Button, fund manager of Fiera Real Estate, said “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 3–25-acre sites for 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 South East logistics site this year. This takes our tally for 2023 to five deals with a value of £225m. 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.”
