Eco-friendly logistics scheme in Swindon gets green light

The development of seven logistics units on a derelict gasometer site off Gypsy Lane, Swindon has been given the green light by council planners.

The application for Swindon Trade Park was lodged by developer Cubex and Fiera Real Estate, which will construct five new trade and two new urban warehouse units totalling 100,000 sq ft.

Read more: Joe Downey becomes director and shareholder of Bristol-based property developer Cubex

The applicants say the speculative development is already attracting interest from prospective occupiers desperate for accommodation in well-connected Swindon, which is becoming a logistics hub due to its proximity to the M4 and M5.

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 was purchased through the Fiera Real Estate Opportunity Fund V UK, the fifth fund in FRE UK’s programmatic venture series with CBRE Investment Management.

It was 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.

Joe Downey, director at Cubex, said: “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.

"We will be spec building this scheme and expect to start on site within the next six weeks."

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Chris Button, fund manager at FRE UK, said: "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.”