Fiera Real Estate (“Fiera”) has acquired two prime UK industrial development sites in Wimbledon and Bury St Edmunds on behalf of its joint venture (“JV”) with a UK institution. They will be developed by Fiera and Wrenbridge, with a combined Gross Development Value of over £110m.

The JV’s first acquisition, made from Schroders, is a strategically positioned development site in the South Wimbledon Business Area, approximately eight miles from Central London and three miles from Croydon. The site benefits from excellent transport connectivity, including immediate access to both the A24 and A3, providing efficient links to Central London and the wider southwest London area.

Plans for the development comprise four industrial units totalling 116,648 sq ft, featuring 10-metre eaves heights, 30-metre yard depths to the western elevation and high-quality office space.

The second acquisition is a 6.44-acre site in Bury St Edmunds, located within the wider Northern Way Industrial Estate, just a three-minutes’ drive from Junction 42 of the A14. The business plan is to deliver five industrial units ranging from 19,000 sq ft to 43,000 sq ft, across a 156,000 sq ft Grade A mid-box logistics scheme.

Both schemes will target BREEAM Excellent and EPC A ratings and will prioritise sustainability and operational efficiency to meet the needs of modern occupiers.

Wrenbridge is one of nine companies within Fiera’s operating partner network, where specialist developers that are part-owned by Fiera help source and deliver assets across its strategies.

Chris Button, Head of Investment Management at Fiera Real Estate commented: “These are high-quality acquisitions which further evidence Fiera Real Estate’s origination and deployment capabilities in a market where price dislocation is still pronounced, and development opportunities can be accessed at an attractive entry point. We look forward to building on the momentum in our newly-formed joint venture, where we are actively sourcing similar 2-to-20 acre sites across the UK as we look to assemble a market-leading portfolio of small-to-mid box industrial schemes.”

James Feltham, Director at Wrenbridge commented “We are very pleased to have purchased two sites for the newly launched JV. These sites reflect our ongoing thesis of delivering speculative industrial development in key undersupplied locations. The acquisition of such a prime site in Wimbledon allows us to access a core urban London location which provides tenants with access to a very strong local demographic.’’