Hines acquires three warehouses near London Heathrow

International real estate firm Hines has acquired three warehouses at Dnata City logistics park near London’s Heathrow Airport.

Hines said that Heathrow planned to increase its cargo capacity to 4 million tonnes per annum by 2040, and the site also gave access to West London sub-markets including Park Royal, Feltham, and Poyle.

The Heathrow acquisition is the fourth urban logistics investment by the Hines Pan-European Core Fund, and the third in Greater London, over the last 18 months.

Peter Epping, Senior Managing Director and HECF Fund Manager, said: “Given the heavily supply-constrained location, we see strong long-term prospects for this prime asset beside one of Europe’s busiest airports, which will be a critical part of the UK’s travel and logistics infrastructure beyond the pandemic.”

Greg Cooper, Director of Industrials and Logistics at Hines UK, said: “Dnata City provides some of the most modern cargo facilities within the cargo zone and critically is 3 to 5 minutes from the main airport cargo gate.”