Fiera Real Estate and Wrenbridge have acquired a 2.9 acres site in Hayes, West London, on which they intend to speculatively develop a Grade A urban logistics development with a GDV of £50m.
The partners have submitted planning for a 83,746 sq ft scheme split across four units ranging from 15,158 sq ft to 25,630 sq ft. Should larger requirements come forward there is an opportunity to combine the units, which Fiera and Wrenbridge hope will receive BREEAM Outstanding and an EPC A+ rating. Subject to planning the scheme is scheduled to complete in summer 2025.
Chris Button, fund manager of Fiera Real Estate, said: “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.”
M1 Agency advised Wrenbridge and Fiera on the purchase with occupational advice from Colliers.
