SEGRO has leased space totalling 102,300 sq ft in a trio of deals at Heathrow.
The deals involve space leased at SEGRO’s wholly owned estates as well as the assets it holds in the Airport Property Partnership (APP), its joint venture with Aviva Investors.
At Polar Park, SEGRO’s wholly owned estate, the company has signed an agreement to lease for 56,000 sq ft with Air Menzies International Limited, the cargo and express wholesaler, on a 15 year lease.
At The Heathrow Estate, another of SEGRO’s wholly owned assets, it has leased 9,300 sq ft on a 10 year lease to Screwfix Direct for a trade counter.
Through APP, at Spacewaye Park, on the North Feltham Trading Estate, SEGRO has leased 37,000 sq ft to Williams and Hill Freight Forwarding, specialist handlers of fine art, antiques and furniture, on a 15 year lease. Williams and Hill is an existing customer and is re-locating to bigger premises as they wish to expand their business.
Alan Holland, SEGRO’s Joint Venture Director, said: “These land-side deals demonstrate the increasing levels of demand we are seeing around the Heathrow market.”
APP is a joint venture formed between SEGRO and Aviva Investors in June 2010 and forms part of the £1 billion portfolio which SEGRO manages at Heathrow. SEGRO is the asset manager to the Fund while Aviva Investors is the fund manager.