Schroders’ UK real estate investment trust has sealed a string of new industrial leases during recent weeks.
Schroder REIT said in a stock market update that it has made “good progress” with the management of its industrial portfolio, which now accounts for more than a third of its portfolio value and was grown with the acquisition of the Stanley Green estate in Manchester late last year. The company struck several new lettings in January and said more are under offer and due to compete soon.
The latest deals include a five-year renewal with Alliance Healthcare at Leeds’ Millshaw Industrial Estate at £4.75 per sq ft, an uplift of almost 35%; a new 10-year lease at the same estate with City Sprint for £6.54 per sq ft; and a new six-year lease with Midway Contract Electronics at the Hortonwood Industrial Park in Telford, at £5.18 per sq ft.
