London, 10 October 2018 —Aberdeen Standard Investment’s AIPUT fund (Airport Industrial Property Unit Trust) has secured a resolution to grant planning permission for its landmark new cargo warehouse from the London Borough of Hounslow’s Planning Committee.
The new 250,000 sq ft facility has been specifically designed to accommodate the operational requirements of dnata, the largest independent cargo-handler serving Heathrow.
The buildings, which will be known as dnata City East, will complement dnata’s existing facilities in the area and will be used to handle the air-freight requirements of its key clients.
dnata City East represents one of the largest ever off-airport pre-lets at Heathrow. The facility will benefit from a strategic location opposite the Heathrow Cargo Terminal, and adjacent to the Southern Perimeter Road, providing quick access to the airport’s operational areas.
dnata City East represents a further leading-edge development by AIPUT’s specialist airport-focused industrial fund.
Commenting on the deal, AIPUT Fund Manager, Nick Smith, said:
“AIPUT is delighted and proud to be announcing this development alongside our established and valued customer, dnata.
This planning permission reinforces AIPUT’s position as one of the largest and most informed landlords around the airport, with the right property in the right place to serve the expanding air-freight related demand and logistics requirements.
dnata’s investment represents a strong vote of confidence in the robustness of AIPUT’s real estate strategy and service to its key airport-related customers.”
dnata UK CEO Gary Morgan said:
“dnata City East will help us to accommodate increased cargo-handling demand from our growing portfolio of clients at London Heathrow at the time when the airport is on the cusp of major expansion.
Securing a state-of-the-art warehouse of this size in a prime location builds on our relationship and real estate work with AIPUT and puts us in a strong position to handle the airport’s cargo-handling requirements of the future.”
AIPUT was represented by ChappellKing and Eversheds Sutherland. dnata was represented by Lambert Smith Hampton and Gowling WLG.
For further images or information, or to speak to AIPUT, please contact:
Melissa Carver/John Mills: 020 7630 1411
The Communication Group plc
Aberdeen Standard Investment’s Airport Industrial Property Unit Trust (AIPUT) is an award-winning specialist owner and manager of industrial property on and near major UK airports. AIPUT is the only specialist airport-focused industrial fund in the UK for institutional investors. AIPUT aims to deliver a strong ESG (environmental, social corporate governance) performance throughout its portfolio, successfully achieving GRESB Green Star status in each of the last four years.
The fund manages a prime portfolio of properties providing high-quality and customised warehouse and logistics space:
- £665m assets under management (@ September 2018)
- 22 assets, amounting to 2.5m sq ft
- 2m sq ft of assets at Heathrow, making AIPUT one of the largest landlords around the airport, serving the evolving needs of the airport and the air-freight related industry.
- Assets at three of London’s major international airports, namely Heathrow, Gatwick and Stansted, plus property at East Midlands and Glasgow
- Target clients and investors – pension funds & expert institutional investors
About Aberdeen Standard Investments
Aberdeen Standard Investments is Europe’s second largest real estate investment manager, managing £43.4 billion of real estate assets across UK, Europe and Asia. Its dedicated team of more than 280 real estate investment professionals manages more than 1,600 real estate assets worldwide, and are based in 18 global offices (including London, Edinburgh, Frankfurt, Paris, Stockholm, Copenhagen, Amsterdam, Hong Kong, Singapore and Boston) (at 31/12/17).
Aberdeen Standard Investments is a high-conviction, long-term investor who believes teamwork and collaboration are the keys to delivering repeatable, superior investment performance. It is resolute in its commitment to active asset management.
Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies. With over 1,000 investment professionals we manage £557.1 billion of assets worldwide. The company has clients in 80 countries supported by 50 relationship offices, ensuring it is close to its clients and the markets in which they invest (at 30 June 2018).
Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
You can access the Aberdeen Standard Investments media centre here: https://www.aberdeenstandard.com/news-and-media.
The value of investments, and the income from them, can go down as well as up and investors may get back less than the amount invested. Past performance is not a guide to future results. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. We recommend that you seek financial advice prior to making an investment decision.
Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction. Any research or analysis used to derive, or in relation to, the above information has been procured by us for our own use, without taking into account the investment objectives, financial situation or particular needs of any specific investor, and may have been acted on for own purpose. No warranty is given as to the accuracy, adequacy or completeness of the information contained in this communication and no liability for errors or omissions in such information. Readers must make assessments to the relevance, accuracy and adequacy of the information contained in this communication and make such independent investigations, as they may consider necessary or appropriate for the purpose of such assessments. Any opinion or estimate contained in this communication are made on a general basis. No information contained herein constitutes investment, tax, legal or any other advice, or an invitation to apply for securities in any jurisdiction where such an offer or invitation is unlawful, or in which the person making such an offer is not qualified to do so.
This communication is available for distribution by the following Aberdeen Asset Management affiliates:
Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Aberdeen Asset Managers Limited is registered in Scotland (SC108419) at 10 Queen’s Terrace, Aberdeen, Scotland, AB10 1XL
Standard Life Investments companies:
Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street, Edinburgh EH2 2LL. Standard Life Investments Limited is authorised and regulated in the UK by the Financial Conduct Authority.