Frozen food supermarket chain signs up to 20-year distribution centre lease

Deeside-based supermarket group Iceland has signed a 20-year lease for a regional distribution centre.

The deal for the chain relates to property at Houston Industrial Estate in Livingston.

The letting of the 284,000 sq ft warehouse, at a rent of £6 psf, marks a significant transaction for the Scottish industrial market.

Owned by RPMI Railpen (Railpen), the investment manager for the £30bn Railways pension schemes, the Livingston site will continue to serve as a base for Iceland’s national operational logistics.

Alastair Dawson, senior asset manager at Railpen, said: “We are very pleased to have agreed a secure, long-term commitment from Iceland at this facility which ultimately delivers returns for our 350,000 members.”

Poseidon Developments advised Railpen in the deal.