Aprirose and Aurora Real Estate have purchased the Heathrow Flightpath car park, let to National Car Parks, for around £16m.
The car park is located on the corner of Bath Road and the M4 spur road, adjacent to the proposed third runway at Heathrow. The site is located six minutes from Terminals 2 and 3, and comprises 709 parking spaces across 4.5 acres.
Owned by the Development Bank of Japan, NCP is the UK’s largest and longest standing car park operator, with 150,000 spaces across more than 500 sites.
Gary Jones, chief operating officer at Aprirose, said: The infrastructure work taking place will inevitably impact on the existing commercial space, so we feel this is a strong asset to acquire at this time.”
Meenal Devani, managing director of Aurora Real Estate, said: “Heathrow Flightpath is a prominent property that is strategically located and will benefit substantially from the arrival of the Elizabeth Line next year and from the prospective third runway at Heathrow. It fits well with our strategy of acquiring assets that are underpinned by strong income and that will benefit from infrastructure change. It is an attractive addition to our Greater London Crossrail portfolio which includes locations such as Ilford, Ealing and Brentwood.”
Aprirose and Aurora were advised by Knight Frank.
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