18th Nov 2005 09:39
British Land Co PLC18 November 2005 18 November 2005 New Star Acquires Heathrow Gateway From British Land New Star Property Unit Trust has acquired The British Land Company PLC'ssuccessful Heathrow Gateway development in Feltham, near Heathrow Airport, forin excess of £65million. British Land developed the first 219,939 sq ft unit, which was pre-let toConsignia PLC at £7.75 per sq ft in 2002, and subsequently developedspeculatively the second phase 126,958 sq ft unit, which was let prior topractical completion to Eagle Global Logistics at £11.20 per sq ft. There is anoutstanding rent review in respect of the Royal Mail unit which is expected toprovide a substantial rental uplift. A final phase, comprising a 93,500 sq ft unit, was also developed speculativelyand sold to an owner occupier in July of this year. King Sturge acted for British Land and Rogers Chapman acted for New Star. Contacts The British Land Company PLC:John Weston Smith - 020 7467 2899Tim Roberts - 020 7467 2977 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land