Fiera Real Estate (FRE UK) and Wrenbridge have announced they have secured planning for a new 65,000 sq ft Grade A industrial warehouse development in Manor Royal, Crawley. The site is located within the Manor Royal Business District which is the biggest business park of the Gatwick Diamond areas and one of the South East’s premier mixed activity employment hubs. The scheme consists of three brand new, high quality mid-box units embodying first floor offices, 10m eaves height and up to 30m yard depth
The 2.4-acre site has a Gross Development Value of £27m and was purchased in April 2022 on behalf of Fiera Real Estate Opportunity Fund V UK (FREOF V UK), the fifth fund in Fiera Real Estate’s £600m value add series. The Fund completed its final close in Q3 2022 with £180m.
ESG has been imbedded into all stages of the design. The scheme is targeting BREEAM Excellent and EPC A rating and will also include 50% electric car charging points and roof lights to the warehouse space. Energy-efficient lighting, heating and cooling will be installed to encourage reduced energy consumption above Part L Regulations and PV panels will be fixed to all buildings.
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