In November 2020, Hines, on behalf of the Hines European Core Fund (HECF), acquired a prime logistics park beside London’s Heathrow Airport. Developed in 2013, the site comprises three logistical warehouses that provide state of the art secure air cargo campus facilities. The 19,418-square-meter complex is located just south of the airport’s southern perimeter boundary and is occupied by Dnata, Heathrow’s dominant cargo operator.
Heathrow Airport is the busiest airport in Europe by passenger traffic and a critical part of the UK’s trade infrastructure. 95% of the global economy is within reach of a direct flight from Heathrow. Heathrow Airport has ambitious expansion plans to double its cargo capacity and become one of Europe’s biggest cargo airports, and a stated aim of increasing cargo tonnage by more than 4 million tons a year by 2040. While the majority of the Heathrow logistics market is dedicated to serving the airport, it also forms part of West London’s wider distribution infrastructure including other sub-markets at Park Royal, Feltham, and Poyle.