AEW UK Core Property Fund agrees new leases for industrial assets in Walsall and Edinburgh

AEW UK Core Property Fund has announced two new letting agreements at two of its industrial assets.

Bestway Wholesale Ltd, the UK’s largest independent cash and carry, has agreed a new 15-year lease for Units 8, 9 and 10 at Bloxwich Industrial estate, Walsall. The property totals 76,206 sq. ft., and has been let for a total of £324,927 pa.

In Edinburgh, AEW has agreed a new 10-year lease renewal to Com Dev Europe Ltd, a space hardware manufacturer, at Unit 1 Queen Anne Drive, Lochend Industrial Estate in Newbridge. The unit totals 51,671 sq. ft. and the lease has been agreed with Honeywell International Inc, a worldwide technology and manufacturing company as guarantor at £290,000p.a.

Commenting on the new agreements, Michael Shears, AEW UK Core Property Fund said: “During these difficult Covid-19 times we are pleased to be announcing these two new lettings. At AEW, we have been working closely with tenants to try and help find the best solutions for them to continue providing a service to their customers and to operate as productively as possible. “