Business
Lettings Secured - Ahead of Expected Rental Value
Lettings Secured - Ahead of Expected Rental Value.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \nRNS Number : 9042X Regional REIT Limited 30 December 2019 \n\n \n30 December 2019\nREGIONAL REIT Limited\n(\"Regional REIT\", the \"Group\" or the \"Company\")\n \nLettings Secured - Ahead of Expected Rental Value\n \n \nRegional REIT (LSE: RGL), the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, today announces further successful lettings 3.0% ahead of expected rental value (\"ERV\"). In total the rents amount to £589,856 per annum:\nStar House, Peregrine Business Park, High Wycombe: Following the recent acquisition of this six building business park extending to 46,374 sq. ft., London & Scottish Property on behalf of Regional REIT Limited has renewed the lease of Star House (9,581 sq. ft.) to Star Micronics Limited for 5 years at a headline rent of £184,450 per annum (£19.25/sq. ft.) in line with ERV subject to a tenant break option at the third anniversary.\nJuniper Park, Basildon: An asset management initiative undertaken by London & Scottish Property on behalf of Regional REIT has seen Schenker Limited take a lease of the whole ground floor offices (12,851 sq. ft.) at Juniper Place on a five year term at a headline rent of £182,260 per annum (£14.18/sq. ft. and 4.9% above ERV). As part of the deal, Schenker will give up their lease of their current second floor office early in the New Year consolidating their occupancy on the ground floor.\nUnit 1, Genesis Business Park, Woking: Gallagher Benefit Services Management Company Limited has taken a 10 year lease of Suite 1C (4,594 sq. ft.) subject to a break option after five years at a headline rent of £105,662 per annum (£23.00/sq. ft.).\n9 Portland Street, Manchester: Imperial Office Furniture Limited has extended its lease on part of the second floor (2,518 sq. ft.) until September 2025. Under the deal the rent payable from the lease renewal in September 2020 will increase to £55,000 per annum (£21.84/sq. ft.) with a 9 month equivalent rent free period granted.\nCopse Walk, Cardiff Gate Business Park, Cardiff: Unit B, Ground Floor (2,221 sq. ft.) has been let to Harrison Clark Rickerbys at a headline rent of £29,984 per annum (£13.50/sq. ft.) on a new five year lease subject to a tenant break option on the third ...