AIPUT starts construction of Heathrow warehouse development
AIPUT fund has today announced the start of construction works on its latest airport-related warehouse development at Blackthorne Point, located immediately to the west of Heathrow Airport on the Poyle Trading Estate.
Image courtesy AIPUT
The new warehouse represents a significant vote of confidence in Poyle’s strength as an attractive investment location for industrial real estate in close proximity to Heathrow Airport.
The new, 27,760 sq ft (2,579 sq m) GEA building will occupy a 1.2 acre plot along Blackthorne Road in Poyle, just across from Heathrow’s Terminal 5 and close to Junction 14 of the M25. Located alongside AIPUT’s Blackthorne Point Estate, the new building will be a stand-alone facility, benefiting from its own dedicated access, parking and service yard facilities. AIPUT’s existing customers at Blackthorne Point include UPS Supply Chain, Horizon International and C H Robinson.
The building will aim to be operationally carbon neutral and therefore is expected to achieve BREEAM Excellent accreditation and a minimum of EPC A. Solar PV panels will be incorporated, together with electric vehicle charging points and rainwater harvesting, with recycled materials used wherever possible in the construction. The lead contractor for the expected eight month build programme, will be A&H Construction, reporting to project manager Northland.
Fraser Green, Asset Manager for abrdn, commented: “This welcome addition to AIPUT’s Heathrow portfolio marks the latest phase in our accelerated investment strategy to deliver exceptional warehouse space that is efficient, sustainable and offers great value for money.
“At a time of historic low vacancy levels set against a growing and more demanding occupier base, we expect to secure a pre-let for our building early in the New Year.”
Development of the new building at Blackthorne Point also provides an opportunity for AIPUT to make improvements to the wider operational environment around Blackthorne Road, including a widening of the entrance to the estate to reduce the risk of congestion and improve security through the installation of a new occupier-controlled access gate. AIPUT’s leasing representatives at Blackthorne Point are DTRE, JLL and Altus.
AIPUT (Airport Industrial Property Unit Trust) is a specialist semi-open ended Jersey Property Unit Trust for expert institutional investors, established for over 19 years. It invests in aviation-related industrial property and land on and near the key UK airports. AIPUT is managed by Aberdeen Standard Investments, which became abrdn plc in July 2021.