LondonMetric Property Plc (“LondonMetric”) announces that it has exchanged contracts on two new lettings totalling c.260,000 sq ft, each on 15 year lease terms, with 10 years to break.

At its Bedford Link development, LondonMetric has let 172,000 sq ft to Carlton Packaging, one of the UK and Europe’s leading e-commerce packaging suppliers, at a rent of £1.33 million pa, which is subject to five-yearly rent reviews at the higher of CPI plus 1% or open market. The recently developed warehouse is BREEAM Excellent and, under the terms of the letting, 250kW of solar PV will be installed.

At Grange Park, Northampton, following a minor refurbishment, LondonMetric has re-let 86,000 sq ft to My 1st Years, a supplier of baby and children’s gifts, at a rent of £0.65 million pa, representing a 29% uplift versus the previous passing rent.

 

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