Fiera Real Estate and Wrenbridge secure two UK industrial sites

Fiera Real Estate, in partnership with a UK institution through a joint venture (JV), has acquired two prime industrial development sites in Wimbledon and Bury St Edmunds. 

Logistics

These sites, which will be developed by Fiera and Wrenbridge, have a combined Gross Development Value exceeding £110 mln (€129.4 mln).
The first acquisition, secured from Schroders, is a strategically located development site in the South Wimbledon Business Area. Situated approximately eight miles from Central London and three miles from Croydon, the site boasts excellent transport links, with immediate access to the A24 and A3, connecting to Central London and the broader southwest London area. Development plans for this site include four industrial units totalling 10,837 m2, featuring 10-meter eaves heights, 30-meter yard depths to the western elevation, and high-quality office space.
The second acquisition is a 2.6-hectare site in Bury St Edmunds, located within the Northern Way Industrial Estate. This site is just a three-minute drive from Junction 42 of the A14. The business plan for this location involves constructing five industrial units, ranging from 1,765 m2 to 3,995 m2, as part of a 14,493 m2 Grade A mid-box logistics scheme.
Both developments will prioritise sustainability and operational efficiency, aiming for BREEAM Excellent and EPC A ratings to meet the demands of contemporary occupiers. 
Chris Button, head of Investment Management at Fiera Real Estate, commented: “These are high-quality acquisitions which further evidence Fiera Real Estate's origination and deployment capabilities in a market where price dislocation is still pronounced, and development opportunities can be accessed at an attractive entry point. We look forward to building on the momentum in our newly-formed joint venture, where we are actively sourcing similar 2-to-20 acre sites across the UK as we look to assemble a market-leading portfolio of small-to-mid box industrial schemes.”
James Feltham, director at Wrenbridge, added: “We are very pleased to have purchased two sites for the newly launched JV. These sites reflect our ongoing thesis of delivering speculative industrial development in key undersupplied locations. The acquisition of such a prime site in Wimbledon allows us to access a core urban London location which provides tenants with access to a very strong local demographic.’’