M7 secures 70,000 sq ft of new lettings at Brucefield Industry Park, Livingston

12 August 2019

M7 Real Estate (“M7”) the pan-European investor and asset manager has, since purchasing Brucefield Industry Park (“Brucefield”) in December 2018 on behalf of a major fund, completed new lettings on over 70,000 sq ft of space. This has increased occupancy to 83.1% (from 73.4%) and the WALT has improved to 5.1 years from 3.9 years.

Brucefield comprises an extensive industrial complex extending to over 557,000 sq ft of modern industrial accommodation together with a development site which extends to approximately 65 acres. Terms were recently agreed on a 10 year lease at 1 Drummond Square, a stand-alone unit of 10,880 sq ft with a tenant’s break at Year 5 and a stepped rent from £51,000 in Years 1-2 to £52,000 thereafter, equating to £4.78 per sq ft; 11% ahead of the acquisition ERV.

Other new lettings on the estate include 1 Rennie Sq (26,100 sq ft), 3 Rennie Sq (9,363 sq ft) 1 Hutton Sq (19,400 sq ft), 1b Young Sq (7,800 sq ft) and 7 Maxwell Sq (6,200 sq ft). Another deal for 10,000 sq ft is also currently under offer.

In addition to the new lettings there is also 46,000 sq ft of space under refurbishment with the works due to be completed in early September 2019.

Graeme Stewart, Asset Manager at M7 commented: “The pace of the new lettings demonstrates the strength of the local market for good space with rents continuing to rise. This investment also further demonstrates the confidence M7 has in the estate.”

M7 lets Barnsley Distribution Unit to Ardagh Glass

4 November 2019

M7 Real Estate, (“M7”) the pan-European investor and asset manager, has on behalf of M7 REIP V (the “Fund”) completed the leasing of a 162,000 sq ft warehouse unit at Carlton Industrial Estate in Barnsley, to Ardagh Glass. read more

M7 joins UK PropTech Association as Gold Member and is Platinum Sponsor of UK PropTech Awards 2019

31 October 2019

M7 Real Estate, the leading specialist in the pan-European, multi-let real estate market, has joined the UK PropTech Association as the latest Gold Member as well as a Platinum Sponsor of the UK PropTech Awards 2019. read more

M7 wins Warehouse Investor of the Year at the EuropaProperty.com CEE Investment Awards

30 October 2019

M7 Real Estate (“M7”) is pleased to announce that it has won Warehouse Investor of the Year at the EuropaProperty.com CEE awards 2019. read more