We have completed a new 5 year lease of the ground and lower ground floors of the Shepherdess Walk office building located near to Old Street Roundabout to LeeWrangler UK Limited at a rent of £250,000 per annum (£42.43 per sq ft). The floors had previously been occupied by VF Northern Europe, a group company of the new tenant. We surrendered the previous lease and simultaneously completed the new lease to LeeWrangler resulting in an uplift of 43% on the previous rent. Aside from the new letting to LeeWrangler, and since purchase in 2013, we have completed one rent review, one new letting and one lease regear on the upper floors which have increased rents by 70%.
