SEGRO extends Air Canada lease for another decade

SEGRO has signed a new 10-year lease with Air Canada, one of the world’s 20 largest airlines, on an 87,400 sq ft facility at Heathrow Cargo Centre, where it has based its UK air cargo handling operations for the last 40-years.

Heathrow Airport handles well over half of the UK’s air cargo and, as cargo volumes increase, so does the demand for industrial space at SEGRO’s Cargo Centre, which has direct airside access.

Alan Holland, SEGRO's Business Unit Director for Greater London, said:

“The fact that Air Canada has opted to extend their stay at Heathrow Cargo Estate after 40 years is testament to our long-standing relationship and the continued strong demand for freight-handling space in close proximity to the airport. This letting will ensure that Heathrow Cargo Centre remains at full occupancy.”

Mark Olney, General Manager, Air Canada Cargo - Europe, ME & India, commented:

“This location has been integral to our UK operations for 40 years, and therefore we are delighted to work with SEGRO to extend our stay for another decade. We have seen an increase in the amount of cargo coming in through the airport, so having a facility like this one is paramount.”

SEGRO’s Heathrow Cargo Centre provides good quality warehouse space, generous loading areas and excellent parking, for cargo handlers. As well as Air Canada, occupiers include DHL Aviation, WFS, Airworld Airlines, Air France and Menzies Aviation.

ABOUT SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.9 million square metres of space (74 million square feet) valued at over £10 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in eight other European countries.

See www.SEGRO.com for further information.