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Aberdeen Property Investors Buys Heathrow Site

LONDON-Aberdeen Property Investors has paid James Smith Estates pounds 6.65 million ($11 million) for a 3.75-acre site at Hayes, north of London's Heathrow airport.

By Graham Parker | Updated on September 25, 2003

LONDON-Aberdeen Property Investors has paid James Smith Estates £6.65 million ($11 million) for Appin House and Stewart Quay on Printinghouse Lane in Hayes, West London. The freehold industrial estate/office investment also has development potential.

Appin House is a 12,695-sf four-storey office building built in the early 1980s. Stewart Quay includes a two-storey B1 building and four industrial/warehouse properties totalling 38,949 sf. Apart from 1,037 sf on the ground floor of Appin House, the site is fully tenanted and provides a current rental income of £527,558 ($870,000) per annum, and a substantial proportion of the 3.75-acre site is currently undeveloped

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