SEGRO plc has exchanged contracts to sell the Heston & Airlinks Industrial Estate near Heathrow Airport to Capital Industrial Four BV for GBP79.5 million.
Heston Industrial Estate is a multi-let industrial estate, located 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 and a weighted average lease length to break of 5.4 years.
The disposal price reflects a topped-up net initial yield of 5.1 per cent and a small premium to the book value at 30 June 2016. Completion is expected by the end of September.
SGRO : SEGRO sells industrial estate near Heathrow