14th Dec 2016 07:26
LONDON (Alliance News) - LondonMetric Property PLC on Wednesday said it has conditionally exchanged contracts to let its 357,000 square foot distribution warehouse in Warrington, north west England.
The development of the warehouse, Omega South, was completed on November 7 on budget and on time, LondonMetric said.
The FTSE 250 property developer said the lease was agreed with an unnamed "major international retailer" on a 15-year lease with contractual uplifts. The terms of the letting are in line with LondonMetric's original business plan, it said.
The deal is expected to become unconditional in January. No financial details of the agreement were given.
LondonMetric said it was advised by Dowley Turner Real Estate and Jones Lang LaSalle Incorp.
By Hannah Boland; [email protected]; @Hannaheboland
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