Fiera Real Estate and Wrenbridge have bought a three-acre site in Hayes, west London, to speculatively develop a grade-A urban logistics scheme with a GDV of £50m.
Planning has been submitted for an 83,746 sq ft scheme, which is scheduled for delivery in summer 2025.
The development will span across four buildings ranging between 15,158 sq ft to 25,630 sq ft, with the flexibility to combine the facilities should larger requirements come forward.
The site is located three miles north of Heathrow Airport.
The project is targeting BREEAM Outstanding and EPCA+ ratings as well as being net zero carbon during construction and operation.
The deal is the third acquisition for the Fiera Real Estate Logistics Development Fund UK, which has a further £250m to deploy into similar logistics sites across the UK.
Will Jarman, associate director at Wrenbridge, said: “[The scheme] 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.”
M1 Agency advised Wrenbridge and Fiera on the purchase with occupational advice from Colliers.
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