Watford business park to be turned into urban warehouse scheme
Harleyford Capital has secured planning consent for a 180,000 sq ft multi-let, urban logistics development on the former in Watford.
By Liza Helps, Property Editor, Logistics Matters
THE SCHEME will comprise 13 units ranging from around 7,000 ft2 to 40,000 ft2 on a 7-acre plot and will target BREEAM Outstanding and an EPC A+ rating.
The development will regenerate an existing brownfield site, taking redundant business park space and repositioning it to industrial and logistics use with a focus on future-proofing and sustainability.
Harleyford Capital announced this, its first urban logistics development site transaction, in February last year, exchanging unconditional contracts on site in Watford, funded in joint venture with Fiera Real Estate through its Fiera Real Estate Logistics Development Fund. Harleyford Capital is responsible for delivery of the project.
At the time of acquisition this was Fiera Real Estate Logistics Development Fund’s the 7th site. The fund’s strategy is to acquire development sites to deliver small-to-mid box Grade A logistics developments with leading ESG credentials.
The scheme is expected to generate a GDV of over £80million.
It will be one of the first WiredScore Certified urban logistics developments in the UK. WiredScore recognises and promotes best-in-class digitally connected buildings across the globe. The certification provides landlords and developers with valuable guidance on how to design a best-in-class digitally connected and future-ready building, and how to promote it to prospective occupiers. The certification measures internet service provision, mobile performance, the use of sustainable technology including EV and PV provision and integrating technology to track and optimize energy consumption, Technology Resilience – implementing measures to protect against cyber threats, physical damage, and climate-related disruptions and Future Readiness – providing the flexibility and adaptability to accommodate future technological advancements, supporting innovation and ensuring long-term competitiveness.
Harleyford Capital and Fiera were advised by CBRE and Taylor Wessing on the acquisition of the site. The Vendor was advised by David Charles Property Consultants and Perry Holt Property Consultants.
