Segro sells Heathrow industrial estate for £80m

FTSE 250 property developer Segro sold its Heston and Airlinks industrial estate near Heathrow airport for £79.5m to Capital Industrial, a property investment and management company.

Chief executive Phil Redding said the disposal reflected the company's “desire to focus our portfolio on more modern and less management-intensive assets, as well as the continuing, strong investor demand for multi-let warehouse assets in London”.

He also said proceeds would help fund development of new warehouses in the company’s core markets.

The estate has a vacancy rate of around 1% and an average lease length of 5.4 years.