UBS Triton Property Fund and asset manager Canmoor have signed HSS Hire for the last 47,000 sq ft warehouse at the Worton Grange Industrial Estate in Reading.
Tool and equipment hire operator HSS Hire has taken a 15 year lease at Unit 6, at a rent of £8.25 per sq ft.
Phillip Hunter, Director for Lambert Smith Hampton, said: “With the letting of Unit 6, the estate is now fully-let for the first time in almost 10 years and the strength of the lease indicates a growing trend towards stronger covenants and harder lease terms across the region as a whole in the last 12 months.”
Roger Reid, Associate Partner at Haslams commented “This letting further restricts the supply of industrial space in the Greater Reading area which will inevitably result in rental growth in 2015.”
HSS had initially considered a build-to-suit unit in Bracknell but these plans were shelved due to timescale restrictions.
The estate covers 29 acres and comprises both office and logistics/distribution units.
UBS and Canmoor were advised by LSH and Haslams.
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Roger Reid
BSc (Hons) MRICS