Daventry Interchange – extension to lease agreed with Cummins
Monday 23rd December, 2019TDBRE have negotiated a reversionary lease on a 38,599 sq ft industrial unit known as Unit B Daventry Interchange, Drayton Fields Industrial Estate.
The previous lease was due to expire later in 2020 and a new lease has been completed for a further 5 years.
Mark Brown at TDB commented; “We are delighted with this deal, especially the rental increase from £3.50 per sq ft to £5 per sq ft which is indicative of the trend for industrial rents generally over the past 5 years”.
TDBRE acted for a London based prop co.
M1 Agency acted for Cummins.