Wrenbridge and Fiera Real Estate have acquired a five-acre site on Pin Green Industrial Estate in Stevenage in an off-market transaction for an undisclosed price.
The joint venture partners will bring forward a £40m GDV single logistics facility of 120,000 sq ft, which would be suitable for use as a company HQ, and are targeting EPC A and BREEAM Excellent ratings.
Chris Button, head of investment management at Fiera Real Estate, said: “This acquisition demonstrates our confidence in the South East logistics market and our ability to transact quickly. We can’t wait to get started.”
Will Jarman, associate director at Wrenbridge, added “We are delighted to add Stevenage to the Wrenbridge/FRELD portfolio. We are targeting a swift delivery of this project to offer a new HQ building in the heart of the Southeast.”
