June 19, 2024
Hot on the heels of sites in Waltham Cross and Heathrow, Fiera Real Estate and Wrenbridge rev up with their latest acquisition for a £40m scheme in Stevenage.
Fiera Real Estate and Wrenbridge have purchased a 5 acre site on Pin Green Industrial Estate in an off market transaction, which will bring forward a single logistics facility measuring 120,000 sq ft. The scheme will be specified to EPC A and BREEAM Excellent, will have 10 dock levellers and two level access doors and offer 12.5m internal eaves. Wrenbridge will deliver a brand new HQ option within minutes of the A1(M), in a location that will draw occupiers exiting London as well as local businesses looking to upgrade their operations.
The latest acquisition follows a run of purchases in Hemel Hempstead, Hayes, Waltham Cross and adjoining sites in Heathrow to grow the committed development pipeline between the partnership in key strategic sites in the Southeast. Stevenage offers businesses a strong workforce, excellent amenities and quick access to London and the north by rail and motorway.
For FRELD, this represents the 9th acquisition since inception, which has further funds to deploy into similar small and mid-box urban UK logistics sites.
Chris Button, Head of Investment Management at Fiera Real Estate, commented “This acquisition demonstrates our confidence in the Southeast logistics market and our ability to transact quickly. We can’t wait to get started.”
Will Jarman, Associate Director of Wrenbridge, commented “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.”