WT has signed a 25-year lease without break at £925,000 ($1.32 million) per annum reflecting £8.73 ($12.48) per sf, with five months rent free. The letting is subject to planning that is due to be achieved by September 2001.
When Brixton bought the 690,000-sf Great Western Industrial Park in November 1999 the average rent on the industrial and warehousing units was less than £6 ($8.58) per sf. Since then, £8.50 ($12.15) per sf has been achieved in a letting of 11,000 sf to Keyline Brands and £10.50 ($15) per sf in a letting of 43,400 sf to retailer Matalan.
There is a further 6.8 acres available on the park in two sites and Brixton has lodged a planning application for a range of building sizes totalling 142,000 sf. Holley Blake and Rogers Chapman are Brixton's letting agents.
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