A third runway at Heathrow Airport will boost demand for commercial property and provide long term security for developers in west London, according to agents…

The £17bn expansion, backed by the Airports Commission, would bring 250,000 more flights each year, providing a £150bn boost to GDP over 60 years and 70,000 new jobs.

Oliver du Sautoy, Head of Research at Lambert Smith Hampton, said a commitment to expanding Heathrow would provide long term security for property occupiers, owners and developers in the area.

“Crucially, new routes will stimulate further inward investment, encouraging international firms to locate around Heathrow,” du Sautoy explained.

“This includes emerging economies such as China, Mexico, Brazil and Indonesia, where there are currently few direct flights, but where there is real potential to boost UK trade links and attract flows of global capital.”

“The impact for commercial property will inevitably be an increase in demand.

“The challenge will be for landlords and developers to ensure there is the stock to meet this demand in the market, which is already short of quality warehouses.”

Savills has forecasted that a third runway at Heathrow would see demand for hotel rooms soar by 42%, equating to an additional 3,500 beds.

Marie Hickey, Commercial Research Director at Savills, said: “The historical link between airport passenger numbers and hotel demand implies that Heathrow’s third runway will generate the requirement for new supply.”

“This will lead to the introduction of new product types and brands, providing greater convenience for travellers.”