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Tritax EuroBox secures new five-year lease in Sweden

4th Jan 2024 09:05

(Alliance News) - Tritax EuroBox PLC on Thursday said it has agreed to a new five-year lease at the first phase of its two-unit development in Rosersberg, a prime logistics location near Stockholm, Sweden.

The investor in Continental European logistics real estate said the letting is for the 5,007 square metre unit at its 13,611 square metre two-unit development close to Arlanda airport.

The five-year green lease has been secured with an unnamed "leading Scandinavian photovoltaic company", beginning in March with a 100% consumer price inflation indexation. This will be reviewed annually and includes a further five-year extension option.

The rent has been agreed at 3% above the estimated rental value as of September and 20% above the underwrite level.

Tritax EuroBox Asset Management Director James Charlesworth said: "This letting successfully demonstrates our strategy of both identifying good speculative development opportunities and attracting strong customers to our high-quality, sustainable buildings, developed close to major population centres and with good transport connections. Securing this lease above ERV and rental guarantee levels to a new customer in a growing sub-sector, underlines the attractiveness of our assets."

Shares in Tritax were up 0.3% at 58.90 pence each in London on Thursday morning.

By Sabrina Penty, Alliance News reporter

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