Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON- Expeditors, the US freight company, has paid £37 million ($57 million) for a major distribution site at London Heathrow airport. It has bought the 15.5-acre Heathrow South Cargo Centre site from BAA Lynton, the property arm of airport operator BAA, but under the terms of the deal BAA will continue to use the site to support construction of the fifth terminal at Heathrow Airport for the next four to five years.

The site has been sold with a five year non-renewable lease to BAA at a rent of £2.25 million ($3.5 million) per annum. There is a tenant’s option to break the lease at the end of the fourth year. Heathrow South is currently the largest fully consented development site for warehousing and distribution in the Heathrow area, with planning consent for 310,000 sf of warehouse accommodation. Expeditors will develop a major air freight facility on the site when BAA vacates it.

Holley Blake advised BAA Lynton. Hines Air Property advised Expeditors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.