Forsters advises Fiera Real Estate UK and Wrenbridge on the acquisition of an urban logistics development site in Waltham Cross

Forsters has advised Fiera Real Estate (“Fiera”) and Wrenbridge on the acquisition of a 2.6-acre site in Waltham Cross for the proposed development of a new 60,473 sq.ft. urban logistics scheme with a GDV of £25m.

The site was purchased through the Fiera Real Estate Logistics Development Fund UK (“FRELD”). All assets in FRELD’s portfolio will meet the rigorous environmental and social requirements set out by FRE UK’s Sustainable Design Brief, which align with its ambition to drive positive change and contribute to a low carbon economy. The scheme will have ESG considerations embedded at all stages of its design process and along with future projects for the fund, it will be targeting net-zero carbon construction, BREEAM Excellent and EPC A.

The site is situated off Britannia Road in Waltham Cross, which is a prime industrial location and two miles from junction 25 of the M25.

Chris Button, Head of Investment Management, UK at Fiera, said, “We are delighted to complete the acquisition of this prime logistics site in joint venture with leading developers Wrenbridge and ably advised, as always, by the magnificent team at Forsters.”

Harry Gibson, Associate Director at Wrenbridge, added: “This is our third deal locally and we look forward to preparing a planning application in the new year to be on site as soon as possible.”

Commercial Real Estate Partner, Jade Metcalf, led on the purchase, assisted by Senior Associates, Alexandra Ringrose and Daniel Steele, and Planning Associate, Sophie Smith. Property Litigation Partner, Ben Barrison, also advised on the deal.