Fiera Real Estate and Wrenbridge have acquired a five-acre site in Houghton Regis, Bedfordshire, where it intends to develop a 100,968 sq ft warehouse with a £22m GDV.
The pair have submitted a planning application in recent weeks to develop an industrial scheme at the site, consisting of six units across four buildings. Offices will make up 10% of the project.
The site was purchased from an undisclosed consortium of private landowners on behalf of Fiera Real Estate Opportunity Fund V UK, the latest fund in Fiera’s programmatic venture series with CBRE Global Investment Partners.
Wrenbridge is partnering with HDD to carry out the development.
Chris Button, fund manager at Fiera Real Estate, said: “Investment demand for logistics assets has been resilient throughout the pandemic, and there is strong demand for the proposed unit sizes and constrained supply.
“We have significant funding for more speculative industrial and logistics developments in major urban locations.”
Wrenbridge has appointed Adroit Real Estate Advisors and Savills as agents for the scheme.
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