Ediston Property Investment Company completes two lease transaction at Pallion Retail Park

Writer, Stock Market Wire
Monday, February 11, 2019 - 09:05

Ediston Property Investment Company said Monday it had completed two further lease transactions at Pallion Retail Park, Sunderland.

GO Outdoors signed an agreement for lease on unit 2, which comprises 11,345 sq. ft., in June 2018. The lease agreement was conditional on the company carrying out various repairs to the property.

The repairs had now been undertaken and a new 10-year lease with a five-year break clause had been completed. The rent passing of £187,192 an annum was 20% higher than the rent paid by the previous tenant.

The Company also completed a lease renewal with The Wallpaper Warehouse on the 6,000 sq. ft. unit 4. The tenant had signed a 10-year lease with a five-year tenant break option. The new rent per annum was 7% higher than the rent at expiry, the company said.

'These two transactions have secured £274,000 p.a. for the Company and show that it is possible to move rents forward on good quality retail warehouse park assets,' said Calum Bruce, Director of Investment at Ediston Properties Limited, the Company's Investment Manager.

At 9:05am: (LON:EPIC) Ediston Property Investment Company Plc share price was +1.75p at 102.75p


Related content

2020 outlook: 10 big questions for the year ahead

It feels like we are at a major turning point for markets. This year has been dominated by concerns about the US/China trade war, a slowdown in the...

Thu, 12/12/2019 - 00:00


Ediston Property Investment net assets decrease amid uncertainty in retail market

Ediston Property Investment Co's net asset value total return decreased in the first quarter amid 'extremely' negative sentiment across the retail sector

For the...

Wed, 24/04/2019 - 09:46


Ediston Property Investment signs retail park lease with B&M Retail

Ediston Property Investment Company said it had signed a lease on a retail park in Barnsley with B&M Retail.

The new 10,000 square foot letting...

Wed, 06/02/2019 - 14:55


Does your fund manager need a PhD?

Author: 

It almost goes without saying that if you entrust your money to a fund manager, it’s because you believe that he or she knows what...

Thu, 06/12/2018 - 00:00


Ediston declares interim dividend

Ediston Property Investment Co has declared an interim dividend (property income distribution) of 0.4583p for the period from 1-31 Dec.

The dividend will be paid...

Tue, 09/01/2018 - 09:34