Heathrow: SEGRO to sell Heston and Airlinks industrial estate

SEGRO has exchanged contracts to sell Heston and Airlinks multi-let industrial estate, comprising 481,000 sq ft of warehouse space across 47 units near Heathrow Airport, to Capital Industrial Four BV for £79.5 million. The estate has a vacancy rate of around 1% and a weighted average lease length to break of 5.4 years. Completion is expected by the end of September.

Phil Redding, chief investment officer at SEGRO, said: “This disposal reflects both our desire to focus our portfolio on more modern and less management-intensive assets, as well as the continuing, strong investor demand for multi-let warehouse assets in London. We intend to use the proceeds to help fund the development of new warehousing in our core markets.”

Credit: CoStar