Regional REIT has secured new lettings of retail and industrial assets in the UK which are 3% ahead of expected rental value.
It has boosted annual rental income by £589,856 as a result.
London & Scottish Property, on behalf of Regional REIT, renewed the lease of a business park in High Wycombe to computer printer sellers Star Micronics.
Meanwhile logistics firm Schenker has taken a five-year lease of the whole of the ground floor at the Juniper Park asset in Basildon, Essex. Elsewhere, spectacles retailer Specsavers Optical Group took a 10-year lease at high street units in Falkirk, Scotland.
In the Genesis Business Park in Woking, Surrey, Regional REIT secured a five-year agreement with insurance firm Gallagher Benefit Services Management Co.
The Cardiff Gate Business Park in the Welsh capital is now fully occupied after law firm Harrison Clark Rickerbys took up ground floor space at the asset.
Finally in Portland Street in Manchester, furniture maker Imperial Office Furniture extended a lease at the unit.
London & Scottish property investment management chief executive Stephen Inglish said: “Demand continues to be strong and we are very encouraged by the rental rates that we are able to achieve, ahead of estimated rental value. This further demonstrates that we are witnessing rental growth in our portfolio on a national scale.
“We also have no shortage of properties to make further acquisitions and to actively manage, improve and subsequently rent out at higher levels or seek an attractive disposal rate.”
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
