SEGRO has exchanged contracts to sell the Heston & Airlinks Industrial Estate to Capital Industrial for £79.5 million.
The Estate is a multi-let industrial estate, to the north-east of Heathrow Airport close to junction 3 of the M4 motorway, comprising 481,000 sq ft of warehouse space across 47 units. The estate has a vacancy rate of around 1 per cent.
Completion is expected by the end of September.
Phil Redding, Chief Investment Officer at SEGRO, said: “This disposal reflects both our desire to focus our portfolio on more modern and less management-intensive assets, as well as the continuing, strong investor demand for multi-let warehouse assets in London. We intend to use the proceeds to help fund the development of new warehousing in our core markets.”