Fiera Real Estate and Wrenbridge plan to develop a £25m speculative logistics scheme on a newly acquired site in Hertfordshire.
The pair have bought a 2.6-acre site on Britannia Road in Waltham Cross and expect to submit a planning application for a 60,000 sq ft-plus mid-box urban logistics unit in the new year.
Chris Button, fund manager at Fiera Real Estate, said: “This prime site represents the sixth acquisition for the Fiera Real Estate Logistics Development Fund UK and adds to the exciting portfolio we are developing for our institutional investors. We have significant further cash resources to buy three- to 25-acre sites for speculative industrial and logistics development in all regions of the UK.”
Harry Gibson, associate director at Wrenbridge, added: “This takes our tally for 2023 to five deals, with a value of £225m. This is our third deal locally, and we look forward to preparing a planning application in the new year to be on site as soon as possible.”
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