B&Q has signed for 159,000 sq ft (14,771 sq m) at Brixton’s Ventura Park in Radlett, Hertfordshire.
The DIY retailer has taken units four and five for 10 years at £6.50 per sq ft (£70 per sq m), equating to more than £1m pa. The deal includes a rent review after five years and a six-month rent-free period.
The units were previously let to logistics specialist Tibbett & Britten (T&B), on behalf of B&Q. It was paying £5.43 per sq ft (£58.45 per sq m).
After a refurbishment, B&Q decided to sign for the lease itself, but T&B will continue to run operations on its behalf.
Three units, totalling 88,608 sq ft (824 sq m), are unoccupied at the park.
Aitchison Rafferty and Holley Blake are joint letting agents at the 590,000 sq ft (54,811 sq m) park.
References: EGi News 26/11/03
