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LONDON-The go-ahead for Terminal Five at Heathrow Airport will only add to the pressure on the already-overheated property market to the west of London, according to agent Rogers Chapman. Because of a shortage of development land and tight planning restrictions it will be very difficult to satisfy the additional demand for both office and warehouse space that the new terminal will create, Rogers Chapman concludes.

Developers will be forced to turn their attention to the public transport nodes and neglected town centres in the area, says the firm. But in the longer term it believes that there are large areas of greenbelt land–where development is prevented by law–that must now be reviewed to enable the local economy to breathe,

‘It has become more and more difficult to find sites around Heathrow’ said Rogers Chapman Director John Izett. ‘With the lower car parking ratios now added to the long-standing greenbelt restrictions, they have just about closed the door to developers in this area.’

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