Harleyford Capital and Fiera Real Estate Drive Forward 180,000 sq ft Logistics Scheme
Harleyford Capital and Fiera Real Estate (“Fiera”) are pleased to announce that they have secured a £25.5 million debt facility from QuadReal Property Group (QuadReal), a global real estate investment, development and operating company, to fund the development of 180,000 sq ft of institutional Grade A logistics space at Watford Works, London.
Watford Works is strategically located within a 5-mile radius of the M25, M1 and A41, providing excellent access to Heathrow Airport and Central London. With a market leading specification comprising of level loading doors and 2MVA power across the scheme, the site also offers flexibility for future occupiers with 13-units ranging from 7,500 sq ft – 50,000 sq ft.
Driven by sustainability, Watford Works has been designed to help cut energy use, carbon emissions and occupational running costs. Watford Works is targeting BREEAM Outstanding and an EPC A+ rating, with all units benefitting from an enhanced ESG specification such as EV charging points and photovoltaic panels.
Having received planning approval for the 13 prime logistics units in March this year, construction works are already underway, with completion targeted for Q4 2026. MCS has been appointed as the main contractor for the site.
Watford Works was acquired through the Fiera Real Estate Logistics Development Fund (“FRELD”).
Chris Button, Head of Investment Management at Fiera Real Estate commented, “We’re delighted to have partnered with QuadReal to deliver this exciting urban industrial and logistics scheme just in time for Santa’s Christmas deliveries for 2026”
Thomas Mallindine, Managing Director, Harleyford Capital commented, “Harleyford Capital is pleased to partner with QuadReal on Watford Works which is already generating significant occupier interest, highlighting the project’s strong market appeal”
Dereck Richter, Vice President, Real Estate Debt at QuadReal commented, “This financing is directly aligned with QuadReal’s global investment strategy and core conviction in the logistics space. We are thrilled to be a part of this development project alongside Fiera and Harleyford Capital.”
Andrew Antoniades, Head of Lending, CBRE Lending, said: “We’re pleased to have supported QuadReal with this financing, which will enable the development of logistics space at Watford Works. Our platform has a wide range of lending programmes, that we either manage or support others with, and development finance is particularly important to us, which can be seen through this debt facility.”
