Fiera and Harleyford secure funding for logistics hub

Fiera Real Estate and Harleyford Capital have secured a £25.5 mln (€29.8 mln) loan from QuadReal Property Group to finance their Watford Works project. 

Watford Works

This development will create 16,722 m2 of high-quality logistics space in Watford, London, with units ranging from 697 to 4,645 m2.
The project, which received planning approval in March and is already under construction with MCS as the main contractor, is strategically located near major motorways (M25, M1, A41), offering easy access to Heathrow Airport and Central London.
Sustainability is a key focus, with the development aiming for top environmental certifications (BREEAM Outstanding and EPC A+), and all units will include features like EV charging points and solar panels to reduce energy use and operating costs. Completion is expected in late 2026. 
The land for Watford Works was acquired through the Fiera Real Estate Logistics Development Fund.
Chris Button, head of Investment Management at Fiera Real Estate, commented: “We’re delighted to have partnered with QuadReal to deliver this exciting urban industrial and logistics scheme just in time for Santa’s Christmas deliveries for 2026.”
Thomas Mallindine, managing director, Harleyford Capital, stated: “Harleyford Capital is pleased to partner with QuadReal on Watford Works which is already generating significant occupier interest, highlighting the project’s strong market appeal.”
Dereck Richter, VP, Real Estate Debt at QuadReal, said: “This financing is directly aligned with QuadReal’s global investment strategy and core conviction in the logistics space. We are thrilled to be a part of this development project alongside Fiera and Harleyford Capital.”
Andrew Antoniades, head of Lending, CBRE Lending, added: “We’re pleased to have supported QuadReal with this financing, which will enable the development of logistics space at Watford Works. Our platform has a wide range of lending programmes, that we either manage or support others with, and development finance is particularly important to us, which can be seen through this debt facility.”