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LONDON

JLL’s Industrial team lets Heathrow’s largest warehouse

JLL advise AIPUT on letting of 130,000 sq ft unit at Heathrow South Cargo Centre


JLL's Industrial team lets Heathrow's largest warehouse

JLL advise AIPUT on letting of 130,000 sq ft unit at Heathrow South Cargo Centre

London, 23 April 2015– JLL's Industrial & Logistics team have advised Airport Industrial Property Unit Trust (AIPUT) on the letting of Unit 1, Heathrow South Cargo Centre, to Kuehne + Nagel Limited (K+N.)

The unit comprised 122,378 sq ft but was extended by the landlord  to provide extra offices of 8,000 sqft , giving a total of 130, 000 sq ft. The warehouse is situated 2.9 miles from Heathrow's cargo terminal and has easy access to the M4, M25 and M3.

K + N are one of the largest international distribution companies and will be turning the unit into their UK headquarters for air freight.

Melinda Cross, Director in JLL's Industrial team commented: "The Heathrow area is a hot spot for occupiers due to its transport hub location and the economic uptick. K + N have taken the largest space currently available as a headquarters building, for their airfreight division. As confidence continues to grow amongst developers, funds and property companies, we have started to see more speculative developments planned as there is a shortage of grade A buildings, particularly in the larger size bracket. With the shortage of supply we are seeing landlords hardened on incentives and rents increasing.

Nick Smith, at AIPUT added:

"It is a delight for AIPUT to be forging this important relationship with Kuenhe + Nagel, and to safely deliver a strategic air freight hub at Heathrow to plug into their world-class supply chain operation. This is a monumental and well timed transaction for all the parties, that meets the growing need and strategy to reinforce the connectivity and leading-edge supply services at our primary UK airports."

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