14 Dec Prologis acquires 203,000 sq ft Heathrow office space

Prologis purchased 203,000 sq ft of office space at Heathrow Airport for £100million.

The 10.5-acre Compass Centre office includes a 4.5-acre car park on Nelsdon Road, near the M5.

Robin Woodbridge, Head of Capital Deployment and Leasing at Prologis UK, said: “We are delighted to secure this prestigious building and its surrounding land, at a time when demand for industrial space and land for development is soaring, especially in areas close to London.

“Competition is particularly intense for this type of package and we are pleased to have been able to complete the transaction off-market.

“While we have no immediate plans to develop the property or land and the office building, there may be scope to redevelop it for logistics use at some point in the future.”

Built in 1992, the Compass Centre is let entirely to Heathrow Airport with the lease ending June 2023.