Slough Estates and The Airport Property Partnership today unveiled their latest airport property acquisitions vehicle, the Colnbrook Industrial Limited Partnership.
The new vehicle has been launched following the £32m acquisition of a 150,000 sq ft (13,935 sq m) logistics centre on a 50 acre site close to the Terminal 5 building at Heathrow Airport. The site, which has been acquired from Argent, also comprises an aggregates facility leased to Foster Yeoman.
The strategic location of the site, immediately adjacent to the M25 motorway network, makes it a natural fit for Slough’s portfolio. The company already owns 85 hectares of land in the West London and Heathrow area, with 3.8m sq ft (356,665 sq m of business space.
Phil Redding, Slough’s regional director for West London, said: ‘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.’
The Airport Property Partnership is asset managed by baa Lynton, a wholly owned subsidiary of BAA, who will also asset manage the Colnbrook Industrial Limited Partnership.