Airport Industrial Property Unit Trust has sealed the largest strategic land transaction around Heathrow for more than 20 years, buying a 75-acre site to the west of the airport.
The trust, managed by Aberdeen Standard Investments, has almost doubled the size of its portfolio around the airport through the acquisition of the site next to the Poyle Trading Estate.
The trading estate is already home to AIPUT’s 155,000 sq ft Blackthorne Point Industrial Estate, where a speculative 27,800 sq ft warehouse is expected to complete next summer.
Nick Smith, AIPUT fund manager, said: “Our ambition here is to deliver Heathrow’s next generation of highly efficient, secure and sustainable logistics warehouses that offer the best value in a highly competitive market driven by rapidly evolving consumer behaviour and technological advancement.
“Our immediate focus is to drive net income levels from the existing estate, while working collaboratively with all our neighbours and stakeholders to bring forward an exceptional redevelopment proposal that brings an extensive range of economic benefit for the region.”
AIPUT was advised by Chappell King Aviation Real Estate, John Linton Property and Eversheds Sutherland.
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