Wrenbridge and Fiera Real Estate (“Fiera”) are pleased to announce the off-market acquisition of 14.8-acres in Heathrow, West London from Stonegate Homes. The business plan is to speculatively develop a Grade A urban logistics development with a GDV of c.£60m.
This represents the fourth acquisition for the Fiera Real Estate Logistics Development Fund UK (“FRELD”) which has a further c.£200m to deploy into similar logistics sites across the UK.
The business plan is to obtain planning and speculatively build 110,570 sqft logistics scheme comprising 3 units ranging from 22,131 sq.ft to 58,127 sq.ft. The units will have 12m eaves, dock and level access doors, 50kn floor loading, and 10-15% office content. As with all assets in Fiera’s logistics Fund’s portfolio, the scheme will be targeting an ESG exemplar specification to include EPCA+, Net Zero Carbon construction and BREEAM Excellent rating.
The site is situated on Staines Road, a prime location in West London and benefits from excellent access to the M4, M3 and M25, 1.5 miles from Heathrow Airport and first-rate rail links. Approximately 2.1million people live within a 45-minute drive and the local population of Hounslow has grown by 13.5% in the last 10 years. There is robust demand for the proposed unit sizes and hugely constrained supply as a function of land availability and greenbelt designations in the local area.
Jeff Wilson, Director of Wrenbridge, commented “We are excited to announce our latest prime logistics 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.”
Chris Button, Fund Manager of Fiera Real Estate, commented “We are delighted to be delivering much needed, sustainable high-quality urban warehousing to local area. The scheme will make a strong contribution to the local economy boosting local jobs. We are keen for more high calibre sites for the portfolio to satisfy the capital we have to deploy.”
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