Adapting to Requirements
This month sees us take on Burberry Plc as a tenant after satisfying a requirement for a storage/distribution unit to aid the supply process to local stores, we also concluded a deal with Satellite Solutions Worldwide on a newly refurbished warehouse, which was offered with a 40% office split.
Our variation in warehousing accommodation is allowing us to offer the right opportunities to businesses without having to lay down extensive capital for build to suit projects. As speculative builds are still suppressed the need to stay flexible with current stock remains paramount, this in turn has aided our return on capital employed to stay consistently above sector averages.
In the last quarter we added over 55,000 sq ft net of office accomadation to existing warehouse space as we developed and adapted buildings to suit our tenants needs.