- Industrial property company Stenprop said it completed 29 new lettings and 17 lease renewals in the second quarter.

The company achieved average rental uplifts of 24% and 16%, respectively, above the previous passing rent.

The average rent on the company's multi-let industrial portfolio was now £5.08 per square foot, which was 7.7% below the average estimated rental value of the portfolio.

The vacancy rate stood at 5.5%, excluding space currently under refurbishment at Coningsby Park, Peterborough.

'Our MLI portfolio continues to deliver growth, with new rents consistently ahead of previous passing rents,' chief executive Paul Arenson said.

'Tenant demand for MLI units across the UK continues to grow and supply remains constrained.'

At 9:51am: [LON:STP] Stenprop Limited share price was 0p at 105.5p

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