In QuotedData’s morning briefing 27 March 2024:
- Life Science REIT (LABS) has leased 7,497 sq ft of space at the Innovation Quarter at Oxford Technology Park to Coldquanta UK Limited, which is part of Infleqtion, a global quantum technology company. The lease will complete once the laboratory fitout works are complete. ColdQuanta will pay an annual rent of £337,365, equating to £45.00 per sq ft for 10 years, with a break clause and rent review at the end of the fifth year. This is a significant premium to other lettings achieved at the IQ and reflects the fact that Life Science REIT is fully fitting out the space.
- abrdn European Logistics Income (ASLI) has completed the sale of a 30,180 sqm warehouse in Meung sur Loire, France, to Castignac. The €17.5m disposal price is in line with the 31 December 2023 valuation and reflects a 7% discount to the 30 September 2023 valuation. The vacant asset, previously occupied by Office Depot, is located in Central France, 27km southwest of Orleans, and serves Paris, Central and the South of France for both national and international distribution. This transaction increases portfolio occupancy and represents the company’s second disposal over12 months. The proceeds from the sale and associated repayment of an €11m securitised loan with Bayern LB reduces the company’s LTV from 38.8% to 37.7% (based on 31 December 2023 valuations) with an all-in interest rate of 2.02%, as well as improving its cash position.