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Heathrow is Still King of World's Airports

LONDON-Despite stable rents for warehouses around Heathrow, the area maintains its record for the world's most expensive industrial rents. A new report looks at prospects for UK airports.

By Charlie Jacoby | Updated on December 23, 2002

LONDON-Heathrow is the most expensive industrial/warehouse location in the world for occupiers. That is one of the findings from a new research publication on UK and European Airports, Busy Skies , published by property consultant King Sturge..

Prime industrial rents have remained stable in this market despite the turbulent economic conditions. In contrast office rents around Heathrow have fallen by at least 12.5% as the Thames Valley market bears the brunt of the uncertain equity markets and the slowdown in the TMT sector. The propensity of hi-tech occupiers to locate close to airports has accentuated the impact on off-airport office markets.

The fastest growing European passenger airports are regional airports boosted by low-cost carriers. These airports are increasingly important to regional economies. Many do not have established off-airport commercial property markets, at least in part attributable to the poor surface infrastructure around many of these airports. However, airports such as Prestwick have significant plans for aviation-related commercial activity.

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