Warehouse REIT has said the occupier market has proved “resilient” after posting a string of new deals in the final quarter of its financial year.
In a quarterly trading update, the company said it closed 22 leasing deals in the three months to 31 March, 30.1% ahead of previous rents and representing £1.4m of contracted rent.
Director Simon Hope said: “The consistency with which we are delivering rental uplifts is a testament to the expertise of our asset management team and the strength of our locations, which has underpinned like-for-like rental growth of circa 5% for the financial year. The multi-let industrial market benefits from a diverse mix of occupiers, making it more resilient through the cycle and supporting our strategic priority to capture portfolio reversion.”
