Fiera and Cubex secure tiling retailer prelet at Swindon Trade Park

Fiera Real Estate UK and Cubex have sealed a deal to prelet three spaces at its Swindon Trade Park logistics scheme to retailer Tile Mountain. The retailer has agreed to take up more than 16,000 sq ft at the grade-A scheme, which measures 94,000 sq ft. Further lease terms were not disclosed. Swindon Trade Park is targeting BREEAM Excellent and EPC A ratings, as well as a minimum 10% biodiversity net gain. EV charging points and photovoltaic panels are also incorporated into the design. Fiera and Cubex previously secured planning in 2023 for five new trade spaces and two urban warehouse facilities, with MCS Build appointed as the main contractor. The site was purchased on behalf of Fiera Real Estate Opportunity Fund V UK, the fifth fund in Fiera’s £600m series. It completed its final close in 2022 with £180m of equity committed. Christian Wright, investment manager at Cubex, said: “Despite the ongoing occupational headwinds across the sector, the letting to Tile Mountain reinforces the fact that with the right location and development specification, you can create competitive tension that attracts strong tenants to your scheme on institutional lease terms. “We now have detailed conversations ongoing on the remaining two trade units and are progressing towards practical completion on the larger mid box units.” Check out lettings in Swindon >> Image © Blink