Fiera Real Estate (“Fiera”) and Harleyford Capital (“Harleyford”) have completed the acquisition of a 2.2-acre prime logistics site in Borehamwood, North-West London, with plans to deliver a market-leading 54,000 sq ft single-let warehouse boasting a Gross Development Value of approximately £25 million.
Located adjacent to the A1, the site offers prominent visibility to more than 50,000 vehicles per day. With direct access to Junction 23 of the M25 and Junction 4 of the M1, it provides unrivalled connectivity to a population of more than 9 million within a 30km radius, making it an optimal site for Grade A distribution and last-mile logistics operators.
The proposed state-of-the-art facility will be targeting EPC A+, Net Zero Carbon construction, and a BREEAM ‘Excellent’ rating.
This acquisition continues Harleyford’s run of success, having committed more than £200m in the past 12 months to the UK Urban Logistics subsector across both development projects and operational assets. This has been bolstered with the recently secured planning consent for a 180,000 sq ft office to logistics scheme in Watford. Both Harleyford’s Borehamwood and Watford projects have been funded by the Fiera Real Estate Logistics Development Fund (FRELD), which recently celebrated its final close, reaching a total fund size of £420 million including leverage.
Thomas Mallindine, Managing Director: Asset Management at Harleyford Capital commented “We are excited to grow Harleyford’s development pipeline in this highly strategic North-West London location and continue being at the forefront of the UK urban logistics market”
Chris Button, Head of Investment Management at Fiera Real Estate commented “This project exemplifies our commitment to delivering future-proof, sustainable industrial assets that cater to the evolving needs of leading occupiers.”
