Sussex Junction fills letting slots
UK Commercial Property company REIT Limited has announced that its new 107,000 sq ft industrial development in West Sussex, Sussex Junction, has been fully let.
The final letting was won by Birch Sussex Ltd, an asset storage and concierge business, which has let the 47,000 square foot Unit 1, on a 15-year lease without break.
Birch Sussex's letting of Unit 1 increased the price of lettings per square foot to £14.50
Sussex Junction was completed in February this year and is comprised of three units. Units 2 and 3 were pre-let to geological survey company, CGG, in November 2021.
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The site is immediately adjacent to the A23, approximately 12 miles north of Brighton and 15 miles south of Gatwick Airport. The units themselves are EPC A and BREEAM 'Very Good' with Grade A office facilities, while ample car parking spaces including EV charging points are also provided.
Will Fulton, Fund Manager of UKCM at abrdn, said: "The logistics occupier market continues to perform well with demand outstripping supply for well-located, high quality assets, as demonstrated by the speed with which we have been able to let our newly completed units at Sussex Junction, while at the same time improving the rents.
''There are a number of opportunities to capture substantial reversion potential across our diversified portfolio, which will enable us to drive rental income on behalf of our shareholders in the near term."
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