These deals were made via Investec REALIS, an equity strategy launched by Investec last year, in partnership with logistics developer Wrenbridge.

The sites acquired are a vacant film studio warehouse in Greenwich, a brownfield site in Cambridge and a share in an innovation park in Harlow.

The firms’ plans are to redevelop the Greenwich warehouse into a 40,000 sq ft single-let unit and the Cambridge site into a 37,000 sq ft mid-box logistics unit.

The 47% share of the SPV owning the eight-acre Harlow Innovation Park site will allow Investec and Wrenbridge to develop a 150,000 sq ft industrial and R&D focused development.

These schemes will be delivered to target EPC A* and BREEAM Excellent certifications.

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“Despite Greater London and the South East being Europe’s dominant last mile ecosystem, competition from higher value use classes has resulted in an acute supply demand imbalance for modern, sustainable urban logistics,” said Yon Papageorgiou, head of real estate equity investments at Investec.

“In Wrenbridge we have teamed up with a trusted, longstanding partner, and their ability to source three projects at such an attractive entry price is testament to the strength of their relationships and the depth of their local market knowledge.”

Ben Coles, CEO at Wrenbridge, added: “We are very excited to have teamed up with Investec to deliver three best in class sites.

“The projects located in Greenwich, Cambridge and Harlow will be brought forward on a speculative basis, reflecting our belief in the occupational markets driven by a continued supply and demand imbalance.”