01 February 2012
SWIP (Scottish Widows Investment Partnership) today announces that its Airport Industrial Property Unit Trust (AIPUT) has completed the rebuild of building 521 - cargo centre at Heathrow.
The recently-completed rebuild comes after the former structure was destroyed by fire in 2010 and represents a total investment of £5.2m. This prime cargo warehouse boasts over 86,000 sq ft of commercial space; facilities of this size are rarely available at this much sought after location.
The warehouse benefits from airside access which is pivotal for its cargo handling operator.
The build, which took 15 months to complete, incorporates a number of structural enhancements to underpin its status and operation within the Heathrow cargo handling community. Servisair handles freight operations for several key airlines.
Nick Smith, SWIP’s Investment Director for AIPUT, comments:-
“Servisair is a valued customer for AIPUT. We are pleased we have been able to support and work with Servisair to rebuild their strategic cargo facility at Heathrow following the circumstances in 2010. This is testament to the efforts of the project team to deliver a striking new facility in a short period of time, allowing Servisair to maintain its high standards of customer service.”
- Ends -
Notes to Editors
- The Airport Industrial Property Unit Trust (AIPUT) is a specialist in the ownership and management of warehouse and logistics property at and near major UK airports.
- The AIPUT portfolio manages in excess of 2.4 million sq ft of cargo and warehouse accommodation including: Heathrow, Gatwick, Stansted and Glasgow airports.
- AIPUT portfolio has a combination of existing properties and build-to-suit opportunities
- The rebuild of the Servisair facility at Heathrow airport was project managed by Canmoor Projects Limited and the lead contractor was McLaren Construction.
- A high resolution photograph is available upon request.
Scottish Widows Investment Partnership
- SWIP’s ultimate parent is Lloyds Banking Group, one of the largest financial services groups in the UK.
- SWIP has a geographically diverse client base with alliances and clients in the UK, across Europe, USA and Japan.
- SWIP is one of the UK and Europe’s largest fund managers with £139.90bn funds under management (Source: Internal, as at 31 December 2011).
- SWIP has a broad client base, managing assets for Pension Funds, Charities, Local Authorities, Life Funds, Unit Trusts, OEICs, Off-Shore Funds and Specialist Funds across all major asset classes.
- SWIP is authorised and regulated by the Financial Services Authority and is entered on their register under number 193707 (www.fsa.gov.uk).
- Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact nor should reliance be placed on these views when making investment decisions. Past performance is not a guide to the future.
