LondonMetric has made a host of lettings totalling 213,000 sq ft across its portfolio.
The company has let a 141,000 sq ft distribution unit at its Stoke development to Pets At Home, at a rent of £6 per sq ft or £0.8m per annum.
At Birmingham, the company has let a 38,000 sq ft unit to Network Rail at a rent of £7.50 per sq ft (£0.1m per annum), representing an uplift of 28% on the previous passing rent.
At its Greenford West London site, it has let a 34,000 sq ft unit to online pharmacy company Metabolic Healthcare at a rent of £12.80 per sq ft (£0.4m per annum). The rent is 82% above the rent when LondonMetric acquired the site in 2018.
Additionally, LondonMetric has regeared a lease on a 50,000 sq ft warehouse in Fareham that increases the term by 10 years and the rent by 22% to £7.95 per sq ft, representing an additional rent of £0.1m per annum.
In total, the transactions have a weighted average unexpired lease term (WAULT) of 8.2 years and generates an uplift in rent of £1.4m per annum, with new rents agreed at an average of 42% above previous levels.
LMP : LondonMetric completes host of lettings