Airport Industrial Property Unit Trust (AIPUT), a UK airport-focused industrial real estate fund managed by abrdn, has bought the Crawley showroom and maintenance base of electric vehicle manufacturer Tesla.

Abrdn said the 1.1 acre, 17,000sqft site located to Gatwick Airport, has 14 years remaining on the lease.

Nick Smith, fund nanager for AIPUT, said: “This new addition to AIPUT’s Gatwick industrial portfolio sits in precise alignment with our strategy to diversify our portfolio, investing in market-leading businesses that actively promote new technology, positive mobility and the critical decarbonisation of transport and logistics within the ecosystems of London’s primary airports.”

In October last year, AIPUT acquired the nearby Fleming Business Centre.

The manager said these latest acquisitions elevate AIPUT into the top five leading owners of industrial real estate assets in and around Gatwick Airport, representing nearly 300,000sqft of space and upwards of £100m (€116.4m) by value.

To read the latest edition of the latest IPE Real Assets magazine click here. 

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