Tritax Big Box REIT plc (LON:BBOX) has announced that it has signed an agreement for lease with a leading data management company for its recently completed 391,000 sq ft logistics facility at Symmetry Park, Rugby (Unit 5).
Key highlights of the transaction include:
– 15-year lease with open market rent reviews every five years;
– Rental level sets a new high for the scheme, highlighting the strength of the location;
– Expected yield-on-cost towards the upper end of our 6-8% guidance.
Unit 5 has been built to net-zero carbon construction standards and has a BREEAM “Excellent” and EPC A+ rating.
Jonathan Wallis, Director, Tritax Big Box Developments, commented:
“Symmetry Park Rugby continues to be incredibly successful for Tritax Big Box, supplying best-in-class buildings and attracting strong clients into the portfolio. The latest letting underlines our insight-driven approach to development, delivering modern, high-quality buildings matched to occupier needs. We are seeing strong occupational interest in the remaining two units at Rugby, further demonstrating the quality of the location and the buildings themselves.”
