SEGRO buys at Heathrow

Hestoncentre Segro has bought the final chunk of a site near Heathrow where it plans an £85m development.

The purchase of the 1.6 acres of land from an individual owner means that Segro can progress its plans to build a 484,000 sq ft estate on the 27 acre site. The property is next to Segro’s Heston Centre (pictured.

Property Week says Segro bought the 1.6 acre site in a sale and leaseback, and that it paid £2.15m initially, subject to a leaseback at £140,000 a year, with the remaining £1.35m paid on vacant possession.

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