UK Commercial Property REIT has fully let its 170,000 sq ft Sussex Junction industrial development in Bolney, West Sussex, following a circa 47,000 sq ft letting to Birch Sussex.
The asset storage and concierge business has taken Unit 1 on a 15-year lease without a break.
Sussex Junction completed in February this year and comprises three industrial units – the other two units were pre-let to geological survey company CGG. The units are EPC A and BREEAM Very Good rated.
Will Fulton, fund manager of UKCM at abrdn, said: “The logistics occupier market continues to perform well with demand outstripping supply for well-located, high quality assets, as demonstrated by the speed with which we have been able to let our newly completed units at Sussex Junction, while at the same time improving the rents. There are a number of opportunities to capture substantial reversion potential across our diversified portfolio, which will enable us to drive rental income on behalf of our shareholders in the near term.”
