Warehouse REIT achieves rental boost on December quarter lease deals

Writer, Stock Market Wire
Tuesday, February 5, 2019 - 07:42

Warehouse REIT said it completed 14 new lettings and seven lease renewals in the December quarter.

The deals related to 121,000 sqaure feet of space and were achieved at 14.2% ahead of 30 September 2018 estimated rental values -- generating £682,000 per annum of additional contracted rent.

The company said it also secured planning for 250,000 square feet of employment-led new buildings on its 56-acre holding at Queenslie Park industrial estate, on the M8 east of Glasgow.

'Our UK-wide asset management team continues to witness both a strength and depth to occupier demand which is translating into rental uplifts in the mid-teens, significantly ahead of market forecasts,' said Andrew Bird, managing director of manager Tilstone Partners.

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