Fiera and Wrenbridge secure €52m for two UK logistics assets

Fiera Real Estate and Wrenbridge have secured £44.2 mln (€52.5 mln) in financing from Investec to build two Grade A logistics developments totalling 25,362 m2. 

UK logistics asset

Air Heathrow, a new 14,307 m2 logistics development near Heathrow Airport, will consist of four units built with a strong focus on sustainability. The project aims for EPC A+ and BREEAM Excellent ratings, along with net-zero carbon construction. Features will include solar panels, EV charging points, and landscaping designed to enhance biodiversity.
A 11,148 m2 single-unit logistics facility is being developed in Stevenage's Pin Green Industrial Estate, conveniently located near major motorways. Targeting top sustainability certifications (EPC A+ and BREEAM Outstanding), the facility will feature solar panels, EV charging, eco-friendly bike shelters, and showers to encourage sustainable commuting.
Construction is underway on both projects, with anticipated completion in Q4 2025. Magrock is the main contractor. The land was acquired through Fiera Real Estate's Logistics Development Fund (FRELD), which recently closed after raising £420 mln (€498 mln).
Chris Button, head of Investment Management at Fiera, commented, “We are delighted to bring forward these ESG exemplar logistics schemes. Investec’s deep understanding of our business and commitment to sustainability have been instrumental in facilitating this partnership. We appreciate the collaborative approach they have taken, which has allowed us to align our goals and deliver high-quality projects that meet the needs of the market.”
Mike Russell, originator for corporate real estate finance at Investec, stated, “We are proud to support Fiera and Wrenbridge in the development of the AIM and AIR projects. These initiatives not only address the growing demand for high-quality logistics space but also demonstrate our commitment to sustainability in the UK real estate sector. Together, we are contributing to a more environmentally responsible future.”
Will Jarman, director at Wrenbridge and Development Manager for AIM, Stevenage, added, “We are delighted to be working with Investec, Magrock, and Fiera to deliver these projects, creating much-needed high-quality supply to the Heathrow market and A1(M) corridor. Investec’s support and understanding of our vision have been crucial in bringing these developments to life. Their expertise and collaborative spirit have made this partnership a great success, and we look forward to continuing this journey together.”
This deal represents the first collaboration between Investec and Fiera Real Estate, a subsidiary of the global asset manager Fiera Capital Corporation. Given the robust urban logistics market, fuelled by e-commerce and nearshoring trends, Investec anticipates further partnerships with Fiera as they grow their UK logistics portfolio.