The Airport Property Partnership, a joint venture between SEGRO and Aviva Investors, has started the construction of an 85,700 sq ft development for two new facilities at the North Feltham Trading Estate.
Having successfully secured a 69,670 sq ft pre-let facility in the last quarter of 2012 to logistics services provider, Toll Global Forwarding for their new UK headquarters, APP has now started to build this new development. A ground breaking ceremony took place on 9th April 2013 to celebrate the occasion.
Toll Global Forwarding is already an APP customer, with one of its Heathrow locations at River Gardens. The new and larger facility at North Feltham will enable Toll to consolidate and expand its Heathrow operations at a single site, from where it can provide enhanced supply chain solutions for its customers.
A second self-contained facility of 16,030 sq ft is being developed by APP on a speculative basis.
This latest deal to be announced by APP follows on from the two successful pre-lets that the joint venture partnership secured and developed in 2012 on the Portal Site at Heathrow; a 106,600 sq ft UK headquarters and logistics hub for DB Schenker and a 95,800 sq ft Heathrow Service Centre for Rolls-Royce.
Andy Gulliford, Director of APP and SEGRO’s Chief Operating Officer, comments: “We are continuing to experience demand for our well located, high quality buildings, we are delighted to be undertaking speculative development in the prime Heathrow market for the first time in five years.”
Planning consent for the two new buildings on the 1.73 ha development site was granted in early February 2013 by the London Borough of Hounslow and practical completion is expected in October 2013. Both of the facilities are designed to achieve a BREEAM ‘Very Good’ rating.
The well-established North Feltham Trading Estate is the largest non air-side asset in the APP portfolio at Heathrow. Existing occupiers include Wincanton, LSG Sky Chefs, Fedex and UPS. APP is a joint venture between SEGRO and Aviva Investors. SEGRO is the asset manager, while Aviva Investors is the fund manager.