HEATHROW is set to build a major new cargo complex.
Investors have announced plans to build a 19,646 m2 warehouse facility at the European hub.
The news flies in the face of Air Menzies’ recent decision to slash capacity at UK airports and is a huge vote of confidence in the industry.
Airport Industrial Property Unit Trust (AIPUT) has already signed a pre-let agreement with dnata for a 13,146 m2 warehouse.
A spokesman for the Scottish Widows Investment Partnership, which backs (AIPUT) says of the lease deal: “This is a prime site and a strategic asset for AIPUT.
“The pre let deal with dnata is the first phase of the development of the park, and subject to planning, work should start later this year."
Nick Smith, fund manager for AIPUT, says: “This is a huge commitment given the backdrop of these adverse economic conditions, and is testament to our ambitions to deliver an outstanding scheme on this global stage.
“We look forward to forging a deeper stronger relationship with dnata and to strengthen London Heathrow as a leading international airport and cargo destination.”