Federal Express has agreed to take a new purpose-designed 54,132-sf distribution facility to serve the buoyant Heathrow market. A 15-year lease has been agreed at an initial rent of £12.25 ($17.40) per sf after a three month rent-free period. The new building is scheduled for completion in March next year.
In the second deal, SpaTrans has agreed to take a 21,732-sf distribution unit to expand its existing freight forwarding operation on the estate. The new building has been leased for 22 years at an initial rent of £13.50 ($19.20) per sf with a six months rent-free period.
The two new buildings will bring Slough's total holding at Feltham to just short of one million sf with an estimated capital value in excess of £120 million ($170 million). Slough Estates chief executive Derek Wilson says: 'The North Feltham Trading Estate has proved to be a very attractive proposition for distribution and warehousing companies because of its size and prime location.'
De Souza and Fuller Peiser acted for Slough Estates and Rogers Chapman represented Federal Express.
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