Key Letting at Swindon Industrial Estate

Schroder Real Estate Investment Trust Ltd - Key Letting at Swindon Industrial Estate

PR Newswire

London, May 22

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 £220,000 which should complete by August. On completion Recycling Technologies Limited will take a new 10 year lease at £166,000 per annum or £6.50 per sq ft, with a tenant break option at year five. The tenant has provided a £100,000 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-

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