Fiera and Wrenbridge get financing for Hayes logistics scheme

Fiera Real Estate and Wrenbridge have agreed a development loan to part fund the construction of the £50m Boxyard scheme in Hayes. Alpha Property Lending has provided a £17.5m facility for an 84,000 sq ft logistics scheme that was given approval by the local council in December last year after plans were lodged in May 2023. Boxyard will comprise four buildings ranging in size from 15,000 sq ft to 24,000 sq ft. The scheme will be targeting BREEAM Outstanding and an EPC A+ rating. MCS Build has been appointed as the main contractor, with construction works due to start imminently and completion targeted for Q2 2025. The financing deal for Boxyard follows the agreement late last year of a £9.4m development loan to part fund construction works at Swindon Trade Park.  Mert Zabci, head of commercial lending at Alpha, said: “The teams at Fiera and Wrenbridge are commercial, proactive and easy to work with, making the underwrite and execution process straightforward.”