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River Way, Harlow In Harlow, we enabled a food packaging provider to expand into an adjoining unit that we had comprehensively refurbished after a previous occupier vacated, improving its environmental credentials and EPC rating from a D to an A. This secured higher, longer-term income across both units, with the new rent increasing by 47% on their existing unit and 57% ahead of the rent the previous occupier was paying on the additional unit.
47% Higher passing rent
38% Rent increase to £1.6 million per annum 8% Rent ahead of ERV Ten-year lease at a rent of £0.7 million per annum
Grantham distribution warehouse
A rent review was settled with a book distributor where the rent was increased by 38% to £1.6 million per annum, 8% ahead of ERV. We are in discussions with the occupier to extend the lease and carry out sustainability improvements to the unit.
Picton Property Income Limited / Annual Report 2024
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