Warehouse REIT, the specialist urban and ‘last-mile’ industrial warehouse investor, has completed four long-term lettings totalling 121,400 sq ft, increasing portfolio occupancy to 93.3% from 92.7% as at September 30.
Paul Makin, investment director of Tilstone Partners, advisor to Warehouse REIT, said: “The UK warehouse occupier market remains in robust health, reflecting the breadth of tenant demand in a market beset by structural undersupply.”
“Where rents remain affordable, particularly in the regions where the company’s portfolio is concentrated, there is no sign of this supply-demand imbalance easing.”
Makin said more properties with high sustainability credentials were experiencing strong demand and potentially starting to command rental premiums, as businesses accelerate their own green agendas.
“The company has a near-term pipeline of similar value-add initiatives which will enhance the portfolio income profile whilst further reducing vacancy,” added.
Reporting by Frank Prenesti for Sharecast.com
