Le mie ricette per la real estate communityHines, the international real estate firm, has acquired a prime logistics park beside London’s Airport on behalf of the Hines Pan-European Core Fund (HECF). The asset was purchased from Aberdeen Standard Investments for £80 million ($105.9 million).
Developed in 2013, the Dnata City site comprises three logistical warehouses that provide state of the art secure air cargo campus facilities. The 19,418-square-meter complex is located just south of the airport’s southern perimeter boundary and is occupied by Dnata, Heathrow’s dominant cargo operator.
Heathrow Airport is the busiest airport in Europe by passenger traffic and a critical part of the UK’s trade infrastructure. 95% of the global economy is within reach of a direct flight from Heathrow. Heathrow Airport has ambitious expansion plans to double its cargo capacity and become one of Europe’s biggest cargo airports, and a stated aim of increasing cargo tonnage by more than 4 million tons a year by 2040. While the majority of the Heathrow logistics market is dedicated to serving the airport, it also forms part of West London’s wider distribution infrastructure including other sub-markets at Park Royal, Feltham, and Poyle.
Since 2019, HECF has sought to increase exposure to urban logistics assets in key European cities with strong long-term growth prospects. The Heathrow acquisition represents the fourth urban logistics investment by HECF, and the third in Greater London, over the last 18 months.
The HECF was recently recognized as one of the top property funds in Europe, achieving the MSCI European Property Investment Award for the best performing pan-European balanced fund.
Source : Company