20th Jan 2021 17:49
McKay Securities PLC - UK REIT - Agrees a lease renewal with Domestic & General, a specialist warranty provider, of 37,400 square feet at Swan Court in Wimbledon, London. The passing rent, following an uplift at review in 2016, is GBP2.4 million per year, equating to GBP43.00 per square feet. D&G is committing to a new 10-year lease term over the second to fifth floors at a contracted rent of GBP1.8 million per year. D&G will hand back the ground and first floors, which it has part sub-let and not occupied for a number of years. As part of the agreement, McKay will refurbish and improve the common parts of the building, refreshing the reception area and creating new tenant amenities, with the provision of bike storage and shower facilities.
Current stock price: 215.00 pence, up 7.5% on Wednesday
Year-to-date change: up 6.6%
By Evelina Grecenko; [email protected]
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