Hines has acquired Heathrow Logistics Park in West London from Blackstone for a price reportedly in the region of £135m.
The acquisition of the 317,000 sq ft logistics asset, which is located approximately 1.4 miles from Heathrow Airport’s main cargo gate, was made on behalf of Hines European Core Fund (HECF).
The park, which comprises four modern warehouse units on a 15.4-acre site, is fully let to a diversified occupier base and sits alongside HECF’s Cargo Point asset.
Ross Blair, head of Western Europe at Hines, said: “This acquisition will more than double our exposure to the Heathrow logistics market, underlining our strong conviction in Heathrow as a critical logistics hub.”
Chiang Ling Ng, global co-head of investment management at Hines, added: “Air cargo hubs such as Heathrow are critical to global supply chains, as occupiers prioritise speed, resilience, and proximity to key markets. Heathrow Logistics Park continues to build our exposure to core real assets with durable income and a clear path to capture reversion, supported by constrained supply and strong occupier demand.”
James Seppala, head of European real estate at Blackstone, said: “We are pleased to once more partner with Hines on this transaction, which underscores the continued depth of buyer demand for high quality logistics assets in the UK.”
JLL advised Blackstone on the transaction. Hines was advised by ACRE Capital Real Estate.
