Fiera funds €41m for Birmingham urban logistics scheme

Fiera Real Estate Debt Strategies has provided a £36 mln (€41 mln) development loan to a joint venture between Chancerygate and Bridges Fund Management. 

Torque

This funding will support the construction of "Torque," a new urban logistics and multi-let industrial complex in Erdington, Birmingham.
The project will redevelop a 4.86-hectare former factory site into 22 Grade A units, totaling 25,084 m2, with sizes from 418 m2 to 3,066 m2. This development was previously part of a larger multi-asset sale by Chancerygate and Bridges to Indurent, a UK-based developer, owner, and operator of industrial and logistics space.
Strategically located near Birmingham city center and the M6, "Torque" offers excellent transport links and is surrounded by major businesses like Jaguar Land Rover. 
The scheme emphasizes sustainability, aiming for BREEAM Excellent and EPC A+ ratings, and will include features like EV charging and solar panels to promote energy efficiency and reduce carbon emissions.
Richard Howe, managing director and co-head of European Real Estate Debt at Fiera Real Estate, commented: “We are delighted to complete this facility with Chancerygate, one of the UK’s leading developers of multi-let industrial estates. Project Torque is exceptionally well located to capture growing demand for high-quality, sustainable industrial space in the West Midlands, where supply remains constrained. This investment aligns with our strategy to back experienced sponsors delivering high-specification real estate projects in structurally supported markets.”
Shreeya Panchal, head of FP&A at Chancerygate, added: “There is high demand from SME occupiers in Birmingham and throughout the West Midlands for high-quality, sustainable Grade A urban logistics and MLI accommodation. “Our development, Torque, will help satisfy this demand and transform a site in an established industrial area with excellent infrastructure links into new employment uses. “We are pleased to have Fiera’s support which will enhance our partnership with Bridges to provide a lasting economic asset for the region.”
Since launching in 2023, Fiera’s pan-European real estate debt platform has invested in the UK and Iberia.