Watford urban warehouse scheme announced

A joint venture has announced it intends to build a 180,000 ft2 urban warehousing scheme in Watford Hertfordshire.

By Liza Helps Property Editor Logistics Matters

REAL ESTATE investor Harleyford Capital is leading the charge on its first urban logistics development site transaction, with funding from joint venture partner Fiera Real Estate.

The 8.5 acre site which was bought off market will deliver a £80 million scheme of 13 units totalling 180,000 ft2.

The scheme will be an ESG leading institutional Grade A development. Planning is due to be submitted this year with development following on closely. Harleyford Capital regards the region as ripe for development of this nature having a dearth of Grade A supply.

Harleyford Capital Managing Director Investments, Dean Harrison, said: “The value proposition in UK logistics has been bolstered by the market correction and we continue to source attractive off-market logistics deals for our partners and investors.”

Harleyford Capital and Fiera were advised by CBRE and Taylor Wessing. The Vendor was advised by David Charles Property Consultants and Perry Holt Property Consultants.