New letting at Camgate reflects confidence in the continued strength of demand for this growing Heathrow industrial location
[London: 11 June 2020]: Aberdeen Standard Investments’ AIPUT fund (Airport Industrial Property Unit Trust) has announced the completion of contracts with Rygor Commercials for the long-term occupancy of a recently-refurbished 28,000 sq ft unit at The Camgate Centre, Heathrow Airport. The scheme is located to the south of the airport’s dedicated cargo zone, with major nearby airport-related occupiers, including dnata, Swissport and Gate Gourmet. Other AIPUT customers at its Camgate Centre location include Kinnarps and Straight Freight.
Rygor Commercials is a dedicated Mercedes commercial vehicle dealership, offering a range of services covering sales, aftersales and maintenance. This represents a significant expansion for Rygor at Heathrow, with the company planning to operate its new Camgate Centre location as a dedicated truck centre, and its existing site off Stanwell Road is set to focus on the van business.
The self-contained 28,000 sq ft industrial warehouse underwent a comprehensive speculative refurbishment by AIPUT with a building specification that delivers enhanced security, safety and flexibility for the occupier. The warehouse unit benefits from one of the largest secure service yards in the area.
Fraser Green, Portfolio Manager for Aberdeen Standard Investments, said: “The welcome addition of Rygor Commercials as a new customer at the Camgate Centre, shows that even in the most challenging of markets – such as in the context of Covid-19 – demand remains strong for AIPUT’s prime Heathrow industrial floorspace.
“This new lease agreement with Rygor Commercials delivers on AIPUT’s long-term vision to drive continuing growth in our high-quality portfolio of key industrial locations serving Heathrow.”
Sean Joyce, Service Manager at Rygor Commercials, commented: “We are very excited about the new truck site and the opportunities it will bring for both our customers. The site is conveniently located just a mile down the road from our existing Heathrow branch, which will in turn become our Rygor Heathrow van site. Furthermore it is only 3.5 miles from the M25 and less than 5 miles from the M4.
“This new site will give us a great platform to build on the fantastic relationship we have with all our existing customers, as well as welcoming new ones to Rygor.”
The Camgate Centre forms an integral part of AIPUT’s 2.1m sq ft portfolio of industrial warehousing serving Heathrow Airport.
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Notes to Editors
- Aberdeen Standard Investments’ Airport Industrial Property Unit Trust (AIPUT) is an award-winning expert long-term investor specialising in industrial property on and near major UK airports. AIPUT is the only specialist airport-focused industrial fund in the UK for institutional investors with a life until 2036. AIPUT aims to deliver a positive ESG (Environmental, Social and Governance) performance impact throughout its portfolio, with a strategic target to achieve carbon neutrality by 2025. The fund has successfully achieved GRESB Green Star status in each of the last five years.
- The fund, which marked its 15 year anniversary in March 2020, manages a prime portfolio of properties providing high-quality and customised warehouse and logistics space:
- c.£700m assets under management (@ March 2020)
- 19 assets, amounting to c2.5m sq ft
- 2.1m sq ft of assets at Heathrow, making AIPUT one of the largest landlords around the airport, serving the evolving needs of the airport and the air-freight related industry
- Assets at London’s three major international airports: Heathrow, Gatwick and Stansted
- Target clients and investors – pension funds & expert institutional investors
- More information can be found at AIPUT’s dedicated website: www.aiput.co.uk
About Aberdeen Standard Investments
- Aberdeen Standard Investments is a global asset manager dedicated to creating long-term value for our clients. With over 1,000 investment professionals, we manage £486.5 billion* of assets worldwide. We have clients in c.80 countries supported by over 40 offices globally. This ensures we are close to our clients and the markets in which we invest. (*as of 31 December 2019)
- We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange.
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