June 25, 2024
Fiera Real Estate UK (“Fiera”) and Cubex are pleased to announce that they have now completed a key pre-letting at their Grade A 94,000 sq ft logistics scheme, Swindon Trade Park. The lettings to Tile Mountain comprises over 16,000 sq ft split across 3 units at the development.
With ESG at the forefront, Swindon Trade Park is targeting BREEAM Excellent, an EPC A rating as well as >10% biodiversity net gain. EV charging points and photovoltaic panels are also incorporated into the design.
Occupiers benefit from the scheme’s prime location on the edge of Swindon town centre, whilst also being adjacent to a dual carriageway linking directly to the M4, which provides direct routes to Bristol and London.
Fiera and Cubex secured planning in 2023 for five new trade and two new urban warehouse units with MCS Build having been appointed as the main contractor.
The site was purchased on behalf of Fiera Real Estate Opportunity Fund V UK (“FREOF V UK”), the fifth fund in Fiera’s £600m series which completed its final close in February 2022 with £180m of equity committed.
Christian Wright, Investment Manager of Cubex commented “Despite the ongoing occupational headwinds across the sector, the letting to Tile Mountain reinforces the fact that with the right location and development specification, you can create competitive tension that attracts strong tenants to your scheme on institutional lease terms. We now have detailed conversations ongoing on the remaining two trade units and are progressing towards practical completion on the larger mid box units”