Warehouse REIT has secured a 10-year lease renewal with Boots at Daneshill Industrial Estate for 113,000 sq ft of distribution space.
Alliance Healthcare, the distribution arm of Walgreens Boots Alliance, signed for the renewal.
Boots has occupied the 113,000sq ft Unit 2 of the 6-acre estate since 1989.
The lease renewal has been agreed at a 42% uplift to the previous rent paid, with a headline rent of £925,000 per annum (£8.19 psf).
Andrew Bird of Tilstone Partners, asset managers of the scheme, said: “Daneshill continues to be a key asset within Warehouse REIT’s portfolio and we are very pleased that Alliance Healthcare has signed for a further 10 years, demonstrating both the property’s importance to its distribution network and the continued demand for well-located distribution warehouses close to major conurbations.”
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