Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Do-it-yourself giant B&Q has taken a 10-year lease without a break on 159,000 sf of warehouse space at Brixton’s 590,000-sf Ventura Park site in Radlett, Hertfordshire. Following an initial six-month rent-free period, the properties, one of which has been refurbished, are to be leased for a total annual rental of £1.033 million ($1.77 million), subject to a rent review after five years.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.