Slough Estates acquires 50 acre Heathrow logistics center (UK)

Slough Estates and The Airport Property Partnership ("APP"), the specialist joint venture between BAA plc and Morley Fund Management, announce the creation of a new vehicle, the Colnbrook Industrial Limited Partnership, which has acquired a 50 acre site immediately adjacent to the M25 and near the new Terminal 5 building at Heathrow Airport.

The Airport Property Partnership is asset managed by BAA Lynton, a wholly owned subsidiary of BAA plc, who will also asset manage the Colnbrook Industrial Limited Partnership.

The site, which has been acquired from Argent for €47.85 million, comprises a 150,000 sq ft logistics centre leased to Heathrow Airport and an aggregates facility leased to Foster Yeoman. Argent, who were advised by Gowers, still retain a further 215 acres at Colnbrook.

The strategic location of the site, adjacent to Heathrow and the motorway network, makes it a natural fit for Slough's portfolio. Slough already owns 85 hectares of land in the West London and Heathrow area, with 356,665 m² of business space.

Phil Redding, Slough's Regional Director for West London comments: "Slough is delighted to have formed a partnership with APP, and to have secured such a strategic site within the Heathrow market. The parties bring a unique combination of expertise and knowledge to the Partnership, which will help ensure its success."

Source: Slough Estates

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