The Heston & Airlinks Industrial Estate was sold to property manager Capital Industrial for £79.5m.

In an initial announcement on 26th August, Phil Redding, chief investment officer at Segro, said: “This disposal reflects both our desire to focus our portfolio on more modern and less management-intensive assets, as well as the continuing, strong investor demand for multi-let warehouse assets in London.

“We intend to use the proceeds to help fund the development of new warehousing in our core markets."

Heston Industrial Estate comprises 481,000 sq ft of warehouse space across 47 units, and comes complete with 24-hour access and security.

The multi-let estate has a vacancy rate of approximately 1% and a weighted average lease length to break of 5.4 years.

The acquisition will be added to Capital Industrial’s portfolio of 2,000,000 sq ft of industrial space.

Founded in 2013, the firm specialises in industrial assets within the M25.

Meanwhile, Segro owns or manages over 64,000,000 sq ft of space, valued at £7.4bn.

Its properties are located across the UK and nine other European countries.