BAA is to sell half-shares in a range of properties surrounding Heathrow Airport.

Source: Supply Chain Digital

Date :06/06/2007 10:32:02

Morgan Stanley has been appointed by BAA's Spanish owner Ferrovial to handle the sale of its share in warehouse and office assets.

The assets are expected to generate approximately £600 million.

Several bidders are at a ‘sensitive stage’ for the half-share in the Airport Property Partnership, which carries about £400 million in debts, The Times reported.

The main asset on sale is the British Airways Cargo Centre. It is also expected that the sale will include BAA Lynton and the fund's seven percent stake in the Airport Industrial Limited Partnership.

Interested parties are thought to include SEGRO, Brixton and Macquarie Goodman.

BAA has recently received the go-ahead from the London Borough of Hillingdon and the Mayor of London to proceed with the building of the new £1.5 billion Heathrow East terminal.

June 6 2007