Fiera Real Estate and Wrenbridge has sold prime industrial scheme Hawkers Yard in Ruislip for over £14m to Blackstone’s pan-European last mile logistics real estate company Mileway.
The 47,104 sq ft industrial and trade counter scheme is situated in Ruislip, a prime west London location within close proximity to the A40. The scheme comprises seven high-specification units ranging from c.2,500 sq.ft to c.15,000 sq.ft.
“The development is firmly in line with our central investment thesis, being the funder / creator of high quality and sustainable real estate assets that are attractive to occupiers and institutional investors alike. The sale allows us to recycle equity to be redeployed during the remainder of 2020 and 2021 in our latest fund, the Fiera Real Estate Opportunity Fund V,” said Chris Button, Fund Manager at Fiera Real Estate.
James Feltham, Director at Wrenbridge commented “The sale of this scheme highlights the continued strength of the investment market for prime industrial locations, the scheme is underpinned by excellent occupier demand which reflects the quality and specification of the units and limited supply in the west London market.’
Emmanuel Van der Stichele, CEO, Mileway said “This acquisition complements and strengthens our existing portfolio of high-quality, last-mile assets which connect businesses with the companies and communities they serve.”