Warehouse REIT drives up rent with Boots deal – Warehouse REIT has secured a 10-year lease renewal with Boots at a 42% uplift in rent.
Boots has signed the lease renewal at the warehouse at Daneshill Industrial Estate in Basingstoke, which comprises 113,000 sq ft of distribution facilities on a six acre site, with no breaks, at a headline rent of £925,000 a year, or £8.19/sq ft.
The agreement reflects the strong demand for high quality warehouse facilities, and the shortage of alternatives, in this key distribution location as well as the importance of the unit to the tenant’s supply chain.
Alliance Healthcare (Distribution), the distribution arm of Walgreens Boots Alliance, is one of the UK’s leading pharmaceutical wholesalers and distributors, servicing 16,500 community pharmacies, dispensing doctors and hospitals. Its distribution facilities deliver 28,000 deliveries per day – one delivery every 2.5 seconds.
WHR : Warehouse REIT drives up rent with Boots deal
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