The world’s second largest international air freight company, has signed up to take 124,800 sq ft (11,594 sq m) of space at 360 Millington Road near Heathrow.
The Japanese company is expected to pay its new landlord, the British Steel Pension Fund, around £10.35/sq ft (£111.40/sq m) and has agreed to occupy the space on a 15- year full repairing and insuring lease. The rent will be subject to an upward only rent reviews at the end of the 5th and 10th years of the term.
The premises, which are now under construction, will provide 101,040sq ft (9,386 sq m) of warehousing space, 19,920/sq ft (1,850/sq m) of ground and first floor office accommodation and a 3,840/sq ft (356/sq m) two storey mess room. The facility is being built on a site area of 5.68 acres (2.29-ha) and completion is due early March 2007.
King Sturge, Jansons and DLG Architects acted for British Steel Pension Fund and Nippon Express UK was represented by Maxwell Brown.