Standard Life secures first letting at The Hub

Standard Life Investments (SLI) has secured the first letting at its 178,000 sq ft The Hub, Skyline 120 scheme in Braintree, Essex. TR Fastenings has taken a 16,548 sq ft unit on a 10-year term at an initial rent of £7.50 per sq ft, with a break option at the expiry of the 5th year. SLI, acting on behalf of RBS Pension Trustees, also has a 12,998 sq ft under offer. Remaining units of between 16,500 sq ft and 72,000 sq ft are being marketed by M3 and Glenny on a leasehold basis. One 33,880 sq ft unit can be purchased freehold. Countryside properties, which developed the units, forward sold The Hub, Skyline 120 to SLI last year for £14m. SLI has assets under management of £132.1bn and last year controlled around 1.8% of the UK stock market.