Fiera Real Estate and Wrenbridge have acquired 2.9-acres in Hayes, West London to speculatively develop a Grade A urban logistics scheme with a GDV of £50m.
Planning has been submitted and the scheme is scheduled for delivery in Summer 2025.
This represents the third acquisition for the Fiera Real Estate Logistics Development Fund UK (FRELD), which has a further c.£250m to deploy into similar logistics sites across the UK.
The scheme will total 83,746 sq ft, split across four units ranging between 15,158 sq ft to 25,630 sq ft. There will be flexibility to combine the units should larger requirements come forward. It will benefit from the highest ESG credentials with BREEAM Outstanding and EPCA+ being targeted as well as Net Zero Carbon during construction and operation.
Hayes is an established prime London logistics location, strategically positioned 15 miles west of Central London, and 3 miles north of Heathrow Airport. The site is well connected to the motorway network via the M4, which in turn links with the M25. Hayes also benefits from excellent rail links with the mainline rail station providing services to London Paddington with a fastest journey time of 20 minutes. The connection with the newly opened Elizabeth Line has fuelled considerable regeneration to the local area.
Chris Button, Fund Manager of Fiera Real Estate, commented “We are delighted to be delivering much needed, sustainable high-quality urban warehousing to Hayes. The scheme will make a strong contribution to the local economy, boosting local jobs. We look forward to delivering this with Wrenbridge.”
Will Jarman, Associate Director of Wrenbridge, commented “We are excited to announce our plans for the site following acquisition and push ahead with delivering a highly sustainable scheme with Fiera, which is designed to push the bar and create best in class space for a range of occupiers. We are keen for more high calibre sites for the portfolio to satisfy the capital we have to deploy.”
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