Schroder Real Estate Key Letting at Swindon Industrial Estate
23 May 2018 - 4:00PM
UK Regulatory
TIDMSREI
For release 23 May 2018
Schroder Real Estate Investment Trust Limited
KEY LETTING AT SWINDON INDUSTRIAL ESTATE
Schroder Real Estate Investment Trust ('SREIT'), the actively managed
UK-focused REIT, announces that it has exchanged an agreement to lease a 25,677
sq ft warehouse unit to Recycling Technologies Limited at Stirling Court in
Swindon.
The lease is conditional on SREIT refurbishing the unit at a cost of GBP220,000
which should complete by August. On completion Recycling Technologies Limited
will take a new 10 year lease at GBP166,000 per annum or GBP6.50 per sq ft, with a
tenant break option at year five. The tenant has provided a GBP100,000 rent
deposit.
The rent is 23% above the level paid by the previous tenant and reflects strong
demand for good quality industrial units. The rental evidence created by this
letting will be used for an ongoing rent review for a comparable adjoining
unit.
-ENDS-
For further information:
Schroder Real Estate Investment Management
Limited: 020 7658 6000
Duncan Owen / Nick Montgomery / Frank
Sanderson
Northern Trust:
Fraser Hiddelston 01481 745529
FTI Consulting:
Dido Laurimore / Richard Gotla 020 3727 1000
END
(END) Dow Jones Newswires
May 23, 2018 02:00 ET (06:00 GMT)
Schroder Real Estate Inv... (LSE:SREI)
Historical Stock Chart
From Apr 2024 to May 2024
Schroder Real Estate Inv... (LSE:SREI)
Historical Stock Chart
From May 2023 to May 2024