Yorkshire deals help boost lettings for listed real estate company
Properties in Yorkshire are among lettings worth £1.27m per annum secured by listed real estate investment specialist Regional REIT.
The business said these lettings represent a major uplift in income for the Group, as most of these properties were vacant prior to them being let out.
The latest leases include Unit 1, at Acorn Business Park, Killingbeck Drive, York Road, Leeds.
It has been let to Aegis Leeds East LLP on a new five-year lease at a rent of £20,805 per year. Regional REIT bought the site at the beginning of 2018 with over 10,000 sq ft of vacant space available and the business park is now fully let.
In addition, a letting has been secured to Costa Coffee on three combined units at Commercial Street and Wellington Arcade in Brighouse. Costa has signed a new 10-year agreement with the landlords to combine the units. This is due to start within the coming weeks.
Stephen Inglis, CEO of London & Scottish Property Investment Management, the Asset Manager, said: “These significant lettings demonstrate the continued demand across the UK for high quality regional office assets.
“Our asset base continues to attract considerable interest from leading corporate tenants as we continue to build and diversify our existing portfolio with a considerable pipeline of attractive opportunities for our asset management team to maximise unit valuations.”
