The deal, equating to £6.50 ($11.14) per sf, was put together by Brixton following the expiry of a previous tenant's lease in March 2003. The tenant of the other unit, Tibbett & Britten, has exercised a break with effect from this month allowing its client, B&Q, to take a direct lease on the whole unit. T&B will continue to run B&Q's logistics from the warehouse.
The letting allows Brixton to realise a premium just shy of 20% against the rent paid by its previous tenants. Meanwhile, a further 88,608 sf of space remains unlet at Ventura Park and is in the hands of letting agents Aitchison Rafferty and Holley Blake.
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