UK - Standard Life Investments has let over 105,000 square feet of warehouse space in the South East of England on behalf of the pension fund of the Royal Bank of Scotland.
Aero Inventory UK, a service provider to aerospace companies, and Connectix, a cabling systems manufacturer, have signed 10-year leases on warehouse space at The Hub, part of the Skyline 120 employment park in Essex.
Aero Inventory UK will occupy 72,089 square feet of space at a rent of £6.25 (€6.77) per square foot, while Connectix will rent 33,800 square feet at a rate of £6.50 at The Hub, owned by the RBS pension scheme.
"At a time when the market is slow and there is a perception that very few agreements are being reached, these lettings send a very strong signal that there are still good deals to be done and high quality accommodation in a good location remains in demand," said Jason Baggaley, fund manager at Standard Life.
Aero Inventory UK and Connectix will join existing tenants, TR Fastenings, Cogne UK and Flag UK at The Hub, which was completed in 2006 and comprises a total of 400,000 square feet of space close to Stansted Airport.
As a result of these lettings, only one warehouse remains empty at the Hub, a 27,756 square foot unit being marketed by agents Glenny and M3 at £7 per square foot.