Tritax London Logistics Fund (TLLF) has acquired two industrial and logistics assets located in Greater London for more than £130m.
The fund has purchased the 162,549 sq ft new-build, mid-box AIR Industrial Estate in Heathrow from Fiera Real Estate and Wrenbridge for £77m. The scheme, which comprises four fully let units, was funded through the Fiera Real Estate Logistics Development Fund (FRELD).
TLLF has also purchased the 114,494 sq ft Chiltonian Industrial Estate in Lewisham, which comprises 26 multi-let industrial units let to tenants including Toolstation and Screwfix.
The fund has made four acquisitions totalling more than £200m since relaunching in June 2025, representing more than 400,000 sq ft of additional industrial and logistics space. With these two recent additions, TLLF’s portfolio now comprises 22 assets providing more than 2.4m sq ft of I&L space, valued at more than £950m.
Nick Ireland, fund manager for Tritax London Logistics Fund, said: “These acquisitions reflect our disciplined strategy to offer investors exposure to Greater London’s most resilient industrial and logistics submarkets. Both assets benefit from the significant supply/demand imbalance within the M25 and offer strong rental growth potential. We are excited to build on our positive momentum and further diversify our portfolio as we deliver on our growth ambitions for the fund.”
Chris Button, head of investment management at Fiera Real Estate, added: “The sale of AIR Heathrow represents a major milestone for the Fiera Real Estate Logistics Development Fund, marking the first successful exit from the portfolio and demonstrating the value that can be created through our Industrial development strategy. AIR Heathrow represents the characteristics we seek in every investment: a prime location, best-in-class sustainability credentials, high quality occupier demand, and strong execution by an exceptional development partner.
“The transaction is a testament to the strength of our long-standing relationship with Wrenbridge and highlights the continued appetite from institutional investors for well-located logistics assets that meet the evolving needs of occupiers. We are delighted to have delivered such a strong outcome for our investors and look forward to building on this success through the next phase of our logistics platform.”
Harry Gibson, director at Wrenbridge, said: “We are incredibly proud of what we have delivered at AIR Heathrow. From the outset, our ambition was to create one of the very best industrial and logistics schemes in the UK, combining an exceptional location with outstanding design, sustainability and specification. We are hugely grateful to Fiera Real Estate for backing our vision, funding the development and sharing our belief in the potential of the scheme from the outset.
“Completing the development and securing a sale to Tritax is a fantastic result, particularly against the backdrop of a challenging investment and development market. It is a real endorsement of the quality of the scheme and the hard work of the entire project team. AIR Heathrow has been a brilliant project to be part of and one that I’m personally very proud of.”
TLLF was advised by SBY Real Estate on the acquisition of AIR Industrial Estate and by ACRE Capital Real Estate on the acquisition of Chiltonian Industrial Estate.
