Freight forwarder UTi Worldwide is taking two warehouse units at SEGRO’s Stockley Close in Heathrow.
The company has taken a ten year lease on the units which total 34,329 sq ft.
The new space will be used for freight forwarding and other global supply chain activities. Colin Reynolds, Air Freight Director at UTi Worldwide said: “It is essential for our business that we are located very close to Heathrow.”
Doherty Baines, De Souza and Savills advised.
No one could comment on rent level but recent research by Jones Lang LaSalle noted that Grade A headline rents in and around Heathrow remained at £12.50 to £13 per sq ft with key locations next to the cargo terminal commanding premiums. The DB Schenker pre-let of 107,000 sq ft at SEGRO’s Portal site off Scylla Road was agreed off rent of £14 per sq ft while the 70,000 sq ft letting to Cargo Handling was reportedly over £13 per sq ft off a 20-year plus lease.