Planning granted to develop a Grade A Logistics scheme at Swindon Trading Park

News: July 2023

Cubex and Fiera Real Estate (“FRE UK”) are pleased to announce that planning has been granted at Swindon Trade Park to develop a Grade A Logistics scheme providing five new trade and two new urban warehouse units totalling 100,000 sq ft.

The site was purchased through the Fiera Real Estate Opportunity Fund V UK (“FREOF V UK”), the fifth fund in FRE UK’s programmatic venture series with CBRE Investment Management (“CBRE IM”). This is the 18th acquisition for the Fund which reached its final close earlier this year with £180m of capital and is targeting similar sites for industrial development around the UK.

The seven units will range from 3,500 sq ft – 40,000 sq ft and will target a BREEAM Excellent and EPC A rating and will include EV charging points and roof lights to encourage the transition to a low carbon economy. During construction, the scheme will use low emitting or low carbon materials where possible and promote the use of locally sourced goods and materials. Energy-efficient lighting, heating and cooling systems will also be installed throughout the development to encourage reduced energy consumption.

The site is located on the edge of Swindon town centre and next to a dual carriageway linking directly to the M4, which provides direct routes to Bristol and London. Swindon has a population of 3.8m within a 60-minute drivetime and has seen substantial growth in recent years which has helped to establish it as a primary industrial location in the South West. The scheme’s excellent motorway links coupled with its skilled labour supply has resulted in many investment grade occupiers taking space in the area.

Demand for logistics and distribution space has continued to accelerate and warehouses are not being delivered fast enough to address the supply and demand imbalance. As occupiers seek to expand their logistics footprint across the South West, this new site presents a fantastic opportunity to bring forward a best-in-class scheme to a hugely undersupplied area.

Joe Downey, Director at Cubex, commented “Securing planning for 100,000 sq ft is a great result for us and the wider team. The site is centrally located, providing the opportunity to deliver a truly urban logistics scheme which will set the benchmark for high-quality urban warehousing in Swindon. Contrary to a lot of our competitors in the current market we will be spec building this scheme and expect to start on site within the next 6 weeks.

Chris Button, Fund Manager at FRE UK, commented “Fantastic news – this once derelict site will now be sustainably regenerated into a prime employment scheme for the town. Swindon Trade Park is already attracting excellent interest from prospective occupiers – indeed we are close to doing our first pre-let deal!”