Urban Logistics REIT has let a 104,000 sq ft warehouse on Leigh Commerce Park to Alliance Boots on a 10-year lease.
Urban Logistics, formerly known as Pacific, bought the Greenfold Way site as part of a portfolio acquisition from Oxenwood in 2017, for £7.2m. The property was vacant when bought, and has undergone an internal and external refurbishment.
The new tenancy, which started on 2 July, has a rent review and tenant break in the fifth year of the term.
The site, known as Centurion, is made up of a distribution warehousing with an adjoining office building, together with a 5-acre yard surrounding the property.
Urban Logistics’ chief executive, Richard Moffitt said: “The letting of our newly refurbished warehouse in Leigh to Alliance Boots brings a tenant with a strong covenant into a modernised facility, supporting its complex distribution operation. This demonstrates our focused approach to ensuring a diverse, high-quality tenant base across our portfolio, underpinning the Company’s income generation capabilities.”
B8 Real Estate advised Urban Logistics.