Vail Williams - Industrial Development - Heathrow Airport, Cargo 777

Date: 30 Mar 2004

Hines Air Property has appointed Vail Williams and King Sturge to market its new build high specification warehouse facility, Cargo 777, sited close to Heathrow Airport.

Cargo 777 totals 7,222 sq m (77,743 sq ft) and was completed in July 2003. The building offers tenants a headquarters style warehouse facility set within a secure site. The specification includes 8.5m clear height to the warehouse, six electrically operated loading doors (four dock levellers and two grade level) and high quality air conditioned offices of approximately 1,600 sq m (17,223 sq ft).

The building is available on a leasehold basis and the quoting rent is £1,000,000 pa. Consideration will also be given to the disposal of the freehold interest.

Commenting on their appointment to market the space, Peter Freeman of Vail Williams says: "This is a high profile scheme in the Heathrow area and we are confident that it will attract interest from major global corporations reviewing their warehousing and distribution needs in this region.

"There is indication of a slight improvement in the market and of course the warehouse sector has been a little more resilient than the office sector. This encourages us that we will generate interest and with King Sturge we are putting in place a marketing programme to raise awareness of the scheme within its target audience."

Commenting on behalf of Hines Air Property, Peter Holden said: "Our market research indicates that long-term there remains demand from global organisations for state of the art warehousing facilities and Cargo 777 has been designed with this in mind. Set in an established distribution and industrial centre to the west of the Airport, the site offers easy access to both the motorway network and Heathrow Airport."

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