Harleyford Capital and Fiera Real Estate have confirmed the successful arrangement of a £25.5 million debt facility from QuadReal Property Group to fund the development of Watford Works, a new 180,000 sq ft Grade A logistics scheme in London. The partnership aims to deliver a high-specification, sustainable logistics hub designed to meet rising demand for modern industrial space within the capital’s commuter belt.

Located within five miles of the M25, M1, and A41, Watford Works offers excellent transport links to Heathrow Airport and Central London. The project’s 13 logistics units, ranging from 7,500 to 50,000 sq ft, will be equipped with advanced infrastructure, including level loading doors and 2MVA power capacity, providing operational flexibility for future occupiers.

Emphasising environmental performance, the development targets BREEAM Outstanding and an EPC A+ rating. All buildings will feature photovoltaic panels, electric vehicle charging stations, and other enhanced ESG specifications aimed at reducing energy consumption, carbon emissions, and long-term operating costs.

Construction work is already underway following planning approval earlier this year, with completion expected in the fourth quarter of 2026. MCS has been appointed as the main contractor for the project, which was acquired through the Fiera Real Estate Logistics Development Fund (FRELD).

Chris Button, Head of Investment Management at Fiera Real Estate, said: “We’re delighted to have partnered with QuadReal to deliver this exciting urban industrial and logistics scheme just in time for Santa’s Christmas deliveries for 2026.”

Thomas Mallindine, Managing Director at Harleyford Capital, added: “Harleyford Capital is pleased to partner with QuadReal on Watford Works which is already generating significant occupier interest, highlighting the project’s strong market appeal.”

Dereck Richter, Vice President of Real Estate Debt at QuadReal, commented: “This financing is directly aligned with QuadReal’s global investment strategy and core conviction in the logistics space. We are thrilled to be a part of this development project alongside Fiera and Harleyford Capital.”

Andrew Antoniades, Head of Lending at CBRE Lending, said: “We’re pleased to have supported QuadReal with this financing, which will enable the development of logistics space at Watford Works. Our platform has a wide range of lending programmes, that we either manage or support others with, and development finance is particularly important to us, which can be seen through this debt facility.”

The Watford Works scheme represents a significant addition to London’s logistics market, addressing growing demand for energy-efficient industrial space in proximity to major transport corridors.