UK Commercial Property REIT has fully pre-let its 180,000 sq ft Wembley180 logistics unit to an international business, ahead of the current tenant moving out at the end of March.
UKCM has exchanged contracts on a new 10-year index-linked lease with no breaks with the unnamed business, at a rent of £2.7 million a year.
The new occupier is expected to move into the building in October 2019 once UKCM has refurbished it to a grade A specification. Works are due to commence as soon as the current occupier vacates the property upon lease expiry at the end of March 2019.
Wembley180 is a large scale urban logistics centre on a 9.9-acre site in Neasden near the M1 and M25, as well as the A406 North Circular, providing direct access to central London.