The landmark approval yesterday by Parliament to support development of a third runway at Heathrow Airport has been hailed by SEGRO and the CBI.
SEGRO owns over five million square feet of industrial property at London’s airports, primarily at Heathrow and chief executive officer, David Sleath said: “The vote in favour of a third runway at Heathrow is great news. We have long supported the need for additional capacity at the UK’s hub airport – the largest port by value.
“The third runway will double cargo capacity, securing British trade links to the global economy. This is a significant milestone but now we must build the momentum for delivery.”
Confederation of British Industry (CBI) director general, Carolyn Fairbairn said the vote will “open the doors” to a new era in the UK’s global trading relationships.
She added: “Parliament’s approval to build the new runway at Heathrow will lift prosperity across the country, and has long been seen as vital for firms, especially exporters.
“The race for global competitiveness is well underway and the UK must now be quick off the mark – work on the new runway should start as soon as possible. The prize is tens of thousands of jobs and billions of pounds of growth for the British economy.
“As the UK forges a new path to trade, we must also make the best use of existing runways in regions across the country. A truly global Britain will need increased connections and routes from the whole of the UK, now and for the future.”
MPs voted 415 to 119 in favour of expansion at the UK hub with cross-party support for the £14 billion development project. Heathrow will now look to secure planning consent.