Hangars are making the news today as East Midlands Airport in the UK announces the construction of a €3.3 million hangar while a $1.9 million facility is up for sale in the US.
As a 10,164sqft hangar goes up for sale for nearly $1.9 million at Long Beach Airport in California, MAG Developments and East Midlands Airport have announced that construction is underway on a new €3.3 million pre-let facility at the UK gateway.
The new hangar has been pre-let to the aerial surveying, surveillance and aviation group Reconnaissance Ventures Limited (RVL), which has signed a 20-year lease with MAG Developments, the property and development arm of the Manchester Airports Group (MAG) and the owner of the airport.
The 26,000sqft hangar will be located in the maintenance area at East Midlands Airport, and will house RVL’s engineering services and its fleet of 20 aircraft.
It will also be connected to a fully refurbished office block of around 6,000sqft, which will accommodate around 50 employees in RVL’s operations, administration and commercial departments.
David Roberts, property development director at MAG Developments, said: “We are absolutely delighted to announce the agreement with RVL – pre-lets of any size remain extremely rare in the current economic climate, so not only does this project represent another significant investment in the airport and the region, it also demonstrates how our we are working with our customers to provide affordable and realistically deliverable solutions that meet their business needs.”
Meanwhile, the hangar for sale at Long Beach Airport also provides opportunities for aviation related businesses, with direct access to the 405 Freeway as well as major street frontage.