November 20, 2019
It has been a busy quarter for Fiera Real Estate. We currently have £870m AUM and 64 live projects. Within the Fiera Real Estate network, we have won 3 awards, acquired 4 new assets, and disposed of 2. Acquisitions and Disposals This quarter we have acquired 4 key sites, including the acquisition of a portfolio of four high quality gastro pubs located in Hitchin, Taunton, Royal Tunbridge Wells and Sheffield for £11.8m, with a net initial yield of 4.5%. More recently, we have acquired a modern Asda store in Stockport, Greater Manchester for £13.9m. The site comprises 44,368 sq. ft, with a petrol filling station and 179 parking spaces. This reflects a net initial yield of 4.9%. Awards We are delighted to have won the IAS Awards Deal of the Year – over 250,000 sq ft category for Manse Opus’s Prospero, Ansty project and the IAS Awards Deal of the Year – under 75,000 sq ft category for Wrenbridge’s Quadron, Dartford scheme. We have also been shortlisted for 4 awards including the EG Awards London Deal of the Year with the Palmer Capital sale to Fiera Real Estate. Events Fiera Real Estate LandAid Money Maker has been running for 4 years and the challenge has seen many industry professionals team up to raise money for LandAid. This quarter we saw Harlex Property host their second annual golf day at Leigh Golf Club, raising an amazing £3,200; Osborne Clarke completed their London Loop walk, raising £2,400; and Queensbury Capital took on the Rough Runner in Morden Park, raising £540. The money maker comes to a close on 21st November with the Fiera Real Estate Spinathon, which involves 4 teams of 100 real estate professionals going head to head on spin bikes, in an attempt to cycle the furthest distance. In September, we hosted our inaugural Private Alternatives Investment Trends Conference, alongside Fiera Capital. With almost 180 attendees, the event was a great success. The conference discussed the prominent issues and offered solutions to the challenges of committing and deploying capital in an increasingly complex and competitive marketplace. Given the success of the event, we look forward to hosting the conference again next year! Outlook for the future In January 2020, we will be rebranding to Fiera Real Estate UK following the 80% sale of our business in March this year. This represents an exciting period of growth and opportunity for the firm, as we become the UK real estate arm of the Canadian asset manager, Fiera Capital Corporation. As we approach the end of the year, we are looking forward to heading into our last quarter as Fiera Real Estate, before we move into 2020 as the UK real estate arm of Fiera Capital Corporation’s alternative offerings.