Warehouse REIT PLC - London-based investor in real estate, with a focus on UK industrial warehouses - Agrees a 375,000 square feet ten-year lease renewal with supply chain specialist Wincanton PLC, at its Midpoint 18 asset in Middlewich, England. Wincanton will pay a new headline rent of 650 pence per square foot, rising to a minimum of 700p per square foot at the end of the fifth year. This represents a nearly 29% uplift against its previous passing rent, and secures £2.4 million in contracted rent. The lease includes an occupier break in years three and five.
Wincanton is ‘one of the largest occupiers’ of Warehouse REIT’s portfolio, it notes.
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