Fiera Real Estate (FRELD) and Wrenbridge have jointly purchased a five-acre site in Stevenage for £40 million.
The site at Pin Green Industrial Estate was sold in an off-market transaction, which will bring forward a single logistics scheme of 120,000 sq ft.
It will be EPC A and BREEAM Excellent. The building, which could make a headquarters development, is within minutes of the A1M.
The acquisition follows a run of purchases by the partnership, which spreads across Hemel Hempstead, Hayes, Waltham Cross and sites at Heathrow.
Chris Button, head of investment management for Fiera Real Estate, said: “This acquisition demonstrates our confidence in the Southeast logistics market and our ability to transact quickly. We can’t wait to get started.”
Will Jarman, associate director of Wrenbridge, said: “We are delighted to add Stevenage to the Wrenbridge/FRELD portfolio. We are targeting a swift delivery of this project to offer a new HQ building in the heart of the South East.”
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