IN BRIEF: Warehouse REIT agrees ten-year lease renewal with Wincanton

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Warehouse REIT PLC - London-based investor in real estate, with a focus on UK industrial warehouses - Agrees a 375,000 square feet ten-year lease renewal with supply chain specialist Wincanton PLC, at its Midpoint 18 asset in Middlewich, England. Wincanton will pay a new headline rent of 650 pence per square foot, rising to a minimum of 700p per square foot at the end of the fifth year. This represents a nearly 29% uplift against its previous passing rent, and secures £2.4 million in contracted rent. The lease includes an occupier break in years three and five.

Wincanton is ‘one of the largest occupiers’ of Warehouse REIT’s portfolio, it notes.

Current stock price: 99.85p, up 0.7% in London on Monday morning

12-month change: up 26%

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