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UK industrial rents are rising rapidly, according to investor data

Schroder Real Estate Investment Trust, the UK investor, says it has agreed deals that push rents up by as much as 55.6% in one case.

A series of eight deals show enormous variations, with most ranging between 3% and 8% increases.

The star deals were both in Milton Keynes. A lease renewal with My Warehouse Limited in Unit 28 with new five-year lease at a rent of £82,943 per annum, or £7.00 per sq ft, compared with the prior passing rent of £53,321 or £4.50 per sq ft This represented a 55.6% increase.

Nearby a lease renewal with Vacuum Technologies Limited for a new five year lease at a rent of £15,380 per annum, or £10.00 per sq ft, compared with the prior passing rent of £10,766 or £7.00 per sq ft. This represented a 42.9% increase.

At Walton Road, Portsmouth, a Rent review agreed with Codestorm Limited resulting in a new rent of £225,000 per annum, or £8.36 per sq ft, compared with the prior passing rent of £188,377. This represented a 19.4% increase.

More typically, at the Millshaw industrial estate in Leeds a rent review agreed with Camso UK Limited at a new rent of £19,800 per annum, or £7.26 per sq ft, compared with the prior passing rent of £18,420. This represented a 7.5% increase.

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