Fiera and Danescroft buy London site for £68m logistics scheme

Fiera Real Estate and Danescroft have purchased Claverings Industrial Estate in Edmonton from the London Borough of Enfield. The partners plan to bring forward a 130,000 sq ft urban logistics scheme on the 5.6-acre site, comprising seven flexible designed buildings, ranging from 10,000 sq ft to 30,000 sq ft in size. The gross development value of the scheme totals £68m. The scheme is targeting an ESG exemplar specification to include EPCA+, net-zero carbon construction and BREEAM Excellent rating as a minimum. The site sits just north of the Meridian Water regeneration project, with access to junction 25 of the M25. The scheme is 11.2 miles away from central London with direct railway access from Edmonton Green into Liverpool Street. Chris Button, head of investment management at Fiera, said: “Ask me to define a prime urban logistics site and I would show you Claverings. Precisely the sort of industrial regeneration opportunity that Fiera Real Estate and Danescroft was set up to undertake and Edmonton is crying out for.” Dominic Fryer, chief executive of Danescroft, said: “We now look forward to working closely with the London Borough of Enfield through the planning process and to redevelop the site to realise its potential. We are acquisitive and are on the lookout for similar opportunities.” Planning in Enfield >>