- Warehouse REIT said it had agreed a 10-year lease renewal with Walgreens Boots Alliance at an industrial estate in Basingstoke.

Boots had been in occupation of Unit 2 of the estate, comprising 113,000 square feet of distribution facilities on a 6 acre site, since 1989.

The lease renewal, with no breaks, had been agreed at a 42% uplift to the previous rent paid, with a headline rent of £925,000 per annum.

The deal reflected strong demand for high-quality warehouse facilities, and the shortage of alternatives, in this key distribution location as well as the importance of the unit to the tenant's supply chain, Warehouse REIT said.

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