Danescroft and Fiera Real Estate (“Fiera”) have purchased a 5.6 acre logistics site in Edmonton from London Borough of Enfield. The business plan is to speculatively develop a brand new urban logistics scheme comprising of 7 flexible designed units with a GDV of approximately £68m.
For FRELD, this represents the 10th acquisition since inception, which has further funds to deploy into similar small and mid-box urban UK logistics sites.
The scheme will deliver a range of units, from approximately 10,000 sq ft to 30,000 sq ft and will each include 10m eaves heights and yards up to 35m. As with all assets in Fiera’s FRELD portfolio, the scheme will be targeting an ESG exemplar specification to include EPCA+, Net Zero Carbon construction and BREEAM Excellent rating as a minimum.
The site is strategically located just north of Meridian Water, with key arterial routes available nearby via the A10, A406 (North Circular) along with access to Junction 25 of the M25. The scheme is only 11.2 miles from central London, with direct railway access from Edmonton Green into Liverpool Street in just 26 minutes. Small to mid-box availability for Grade A stock in North London is close to an historic low.
Dominic Fryer, Chief Executive of Danescroft, commented: “We are extremely excited to have purchased Claverings Industrial Estate, a complex site that is very much in need of regeneration to provide highly sustainable, best-in-class industrial and logistics space, which will create new employment opportunities and support Enfield’s economic development within a key employment zone.
We now look forward to working closely with the London Borough of Enfield through the planning process and to redevelop the site to realise its true potential.
We are extremely acquisitive and are always on the look-out for similar opportunities
Chris Button, Head of Investment Management at Fiera Real Estate, commented: “Ask me to to define a prime urban logistics site and I would show you Claverings. Precisely the sort of industrial regeneration opportunity that FRELD was set up to undertake and Edmonton is crying out for”.
