Balanced Commercial Property Trust PLC announced it has secured two key leasing initiatives in its industrial portfolio, underlining the robust occupational market and demand for high-quality industrial and logistics space: Unit 8, Hams Hall Distribution Park, Birmingham. Hams Hall Distribution Park: Nestle Purina, a leading pet care and food company, has agreed a 10-year lease extension commencing March 2025, with a break at the end of year five. This unit is a key logistics hub within a strategic West Midlands location.

The lease shows the tenant's continued commitment to the building and a rent review in March 2025 is anticipated to show a significant uplift to the current passing rent. The tenant will benefit from a 3.5 month rent free period on commencement of the new lease. Hurricane 52 on the Estuary Business Park, Liverpool Montirex Ltd, a sportswear clothing brand, has signed a 10-year lease with a break at the end the end of year five.

Hurricane 52 is a newly constructed and highly specified logistics unit of 52,500 sq ft with strong ESG credentials. This letting followed a competitive 'best bids' process between three occupiers, and the rent achieved at PS8.25psf shows an attractive premium in excess of 7% to the unit's estimated rental value (ERV).