Henderson Global Investors, on behalf of its £152 million UK Property Fund, has purchased Units 1-5 Pier Road Industrial Estate in North Feltham for £3.7 million.

The asset was acquired from DTZ Investment Management.

The property comprises 43,985 sq ft (4,086 sq m) of industrial space across five buildings, positioned within a 1.98 acre (0.8 hectare) site.

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Cameron Fraser, fund manager for the Henderson UK Property Fund (HUKPF), commented: "This presented an excellent opportunity to acquire a dilapidated and significantly under performing industrial and warehouse asset, located within a prime Heathrow estate. It presents significant opportunities for active management and the Fund is now preparing a major refurbishment program to take advantage of the robust Heathrow logistics market."

(CD/MH)