Harleyford Capital is set to make its first urban logistics development acquisition after exchanging contracts on an £80m GDV site in Watford, northwest London, through a joint venture with Fiera Real Estate.
The duo will seek to obtain planning permission for a speculative development at the 8.5-acre site. The scheme would provide 180,000 sq ft of grade-A space across 13 facilities, with Harleyford tasked with delivering the project.
The deal, which was sourced off-market, is the seventh transaction for the Fiera Real Estate Logistics Development Fund, which completed its second close in Q3 2023 with over £225m of equity commitments.
The fund’s strategy is to acquire development sites to deliver small-to-mid box grade-A logistics developments with leading ESG credentials.
Harleyford was founded in 2022 by Dean Harrison and Thomas Mallindine, former directors at global investment manager InfraRed Capital Partners, and Zayn Khamisa, together with Fiera Real Estate. The management team has transacted more than £2bn of pan-European real estate in previous roles.
Image © Harleyford Capital/Montfort
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