Iceland, the leading British frozen food retailer, has officially signed for a lease of 20 years for its regional distribution centre at Houston Industrial Estate in Livingston.
The letting of the 284,000 sq ft warehouse, at a rent of £6psf, marks a significant transaction for the Scottish industrial market.
Owned by RPMI Railpen (Railpen), the investment manager for the £30bn Railways pension schemes, the Livingston site will continue to serve as a base for Iceland’s national operational logistics.
Alastair Dawson, Senior Asset Manager at Railpen, commented: “We are very pleased to have agreed a secure, long-term commitment from Iceland at this facility which ultimately delivers returns for our 350,000 members.”
Poseidon Developments advised Railpen in the deal.