AIPUT secures agreement for Heathrow air cargo warehouse
Aberdeen Standard Investments AIPUT fund (Airport Industrial Property Unit Trust) has secured a unanimous resolution to grant planning permission for its new cargo warehouse, from the London Borough of Hounslows Planning Committee. The new 250,000 sq ft facility has been specifically designed to accommodate the operational requirements of dnata, the largest independent cargo-handler serving Heathrow.
The buildings, which will be known as dnata City East, will complement dnata’s existing facilities in the area and will be used to handle the air-freight requirements of its key clients.
Dnata City East represents one of the largest ever off-airport pre-lets at Heathrow. The facility will benefit from a strategic location opposite the Heathrow Cargo Terminal, and adjacent to the Southern Perimeter Road, providing quick access to the airport’s operational areas.
Dnata City East represents a further leading-edge development by AIPUT’s specialist airport-focused industrial fund.
Commenting on the deal, AIPUT Fund Manager, Nick Smith, said: “AIPUT is delighted and proud to be announcing this development alongside our established and valued customer, dnata.
“This planning permission reinforces AIPUT’s position as one of the largest and most informed landlords around the airport, with the right property in the right place to serve the expanding air-freight related demand and logistics requirements.
“Dnata’s investment represents a strong vote of confidence in the robustness of AIPUT’s real estate strategy and service to its key airport-related customers.”
Dnata UK CEO Gary Morgan said: “Dnata City East will help us to accommodate increased cargo-handling demand from our growing portfolio of clients at London Heathrow at the time when the airport is on the cusp of major expansion.
“Securing a state-of-the-art warehouse of this size in a prime location builds on our relationship and real estate work with AIPUT and puts us in a strong position to handle the airport’s cargo-handling requirements of the future.”
AIPUT was represented by ChappellKing and Eversheds Sutherland. dnata was represented by Lambert Smith Hampton and Gowling WLG.