Morgan Stanley plans to use the building for telecommunications co-location and equipment housing. The existing 30 year lease on the 246,000-sf warehouse building runs from September 2000 and had a passing rent of £2.9 million ($4.6 million) per annum, which at the time was a record for this type of accommodation in the area.
The new rental of just over £3.07 million ($4.9 million) per annum shows that there has been rental growth in the Heathrow industrial sector at a time when office rents in the area have been plummeting, according to Brixton.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
