Wrenbridge and Fiera Real Estate have acquired a 5-acre site on the Pin Green Industrial Estate in Stevenage. The off-market transaction was completed for an undisclosed amount.

The partnership plans to develop a £40 million gross development value (GDV) logistics facility on the site, spanning 120,000 square feet. The new facility is designed to meet EPC A and BREEAM Excellent standards and is intended for use as a company headquarters.

Chris Button, head of investment management at Fiera Real Estate, commented, “This acquisition demonstrates our confidence in the South East logistics market and our ability to transact quickly. We can’t wait to get started.”

Will Jarman, associate director at Wrenbridge, expressed enthusiasm for the project, saying, “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 Southeast.”