Eversheds has advised the £480m Airport Industrial Property Unit Trust (AIPUT), on exchanging contracts with Kuehne + Nagel to deliver a 130,500 sq ft flagship warehouse at London Heathrow Airport.

Kuehne + Nagel, a global transportation and logistics company based in Switzerland, has committed to take occupation of AIPUT’s 12,125 sqm warehouse at the Heathrow South Cargo Centre (HSCC).

It is the largest warehouse letting at London Heathrow in 2014, and one of the largest to a dedicated air-cargo service operator for several years at the international airport.

The Eversheds team was advised by partner Richard Lampert.

Richard commented:

“This is the latest in a number of market-leading lettings for AIPUT that we have performed. With the fund now enjoying Aberdeen’s backing, we expect it to grow exponentially in the airport sector.”

Nick Smith, Fund Manager of AIPUT, said:

“It is a privilege to welcome Kuehne + Nagel as a new customer to AIPUT’s portfolio, and to be delivering a landmark warehouse for this market leading and innovative cargo management operator.

“We have worked closely with Kuehne + Nagel to tailor a modern warehouse that will support a flagship operation for their growing world-wide logistics business, and in turn deliver a core long term asset for AIPUT’s institutional investors.”