Lothbury Investment Management Limited, on behalf of Lothbury Property Trust, has secured a planning consent for the development of four industrial units totalling 75,000 sq ft at Colndale Road, Poyle, close to London Heathrow Airport.
The £20m project sees the demolition of existing mainly 1960s and 1970s buildings and structures, located on a site of c. 3.5 acres, to create a new ‘best in class’, multi-let industrial estate targeting BREAAM Excellent and Net Zero Carbon in Construction.
Adam Smith, Executive Director at Lothbury Investment Management, said: “The development of this estate will provide a high-quality product that will enhance both the returns and the ESG credentials of the Fund. The occupier base in this location is widening beyond solely airport-related businesses due its proximity to London and the national motorway network. The supply-demand dynamics will support strong rental growth over a significant time horizon.”
Lothbury also holds a further three units on the same estate and a modern single-let distribution unit on the adjacent site.
Colndale Road has excellent access to London Heathrow airport cargo terminal, junction 14 of the M25 and the M4.
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Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).
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