Investec Realis and Wrenbridge secure three logistics sites

Investec Realis, Investec Bank's equity strategy, is expanding its urban logistics portfolio in Greater London and the South-East through a new partnership with UK developer Wrenbridge. 

Harlow site

This collaboration highlights a strong belief in the region's e-commerce market, which has seen a 25% decrease in available industrial land since 2005.
The partnership has secured three strategic sites for speculative development, totaling £90 mln (€106 mln) in GDV.
In Greenwich, a former film studio warehouse will be redeveloped into a roughly 3,700 m² single-let logistics unit. A brownfield site in Cambridge will be transformed into a 3,437 m² mid-box logistics unit. Finally, in Harlow a 47% stake has been acquired in the SPV for a 3.2-hectare site, where a 13,935 m² industrial/R&D focused development is planned in partnership with Buccleuch Property and Wrenbridge.
All developments will prioritize sustainability, aiming for top institutional specifications, including an EPC A* rating and BREEAM Excellent certification. Wrenbridge brings extensive experience, having delivered 30 logistics schemes worth £2 bn (approximately €2.36 bn) GDV and currently managing 139,355 m² under construction.
Yon Papageorgiou, head of Real Estate Equity Investments at Investec, commented: “Despite Greater London and the South East being Europe’s dominant last mile ecosystem, competition from higher value use classes has resulted in an acute supply demand imbalance for modern, sustainable urban logistics. In Wrenbridge we have teamed up with a trusted, longstanding partner, and their ability to source three projects at such an attractive entry price is testament to the strength of their relationships and the depth of their local market knowledge.”
Ben Coles, chief executive of Wrenbridge, added: “We are very excited to have teamed up with Investec to deliver three best in class sites. The projects located in Greenwich, Cambridge and Harlow will be brought forward on a speculative basis, reflecting our belief in the occupational markets driven by a continued supply and demand imbalance.”
Realis has now executed four transactions within the industrial and logistics development sector, a key area of focus that also includes prime offices and select residential assets. This newest partnership builds on Realis's existing £400 mln (€472 mln) joint venture with Kier Property, established earlier this year, which is dedicated to developing multi-let urban logistics properties throughout England.