Alliance Healthcare renews lease on Basingstoke warehouse

Alliance Healthcare, the distribution arm of Walgreens Boots Alliance, has renewed the lease on its Basingstoke warehouse for a further ten years.

It has occupied the 113,000 sq ft warehouse at Daneshill Industrial Estate since 1989.

The ten-year lease renewal, with no breaks, in return for market standard incentives, has been agreed at a 42 per cent uplift to the previous rent paid, with a headline rent of £925,000 per annum, or £8.19 psf.

The deal is one of a number of asset management initiatives executed by Tilstone Partners for Warehouse REIT this year.

Andrew Bird of Tilstone said: “Daneshill continues to be a key asset within Warehouse REIT’s portfolio and we are very pleased that Alliance Healthcare has signed for a further ten years, demonstrating both the property’s importance to its distribution network and the continued demand for well-located distribution warehouses close to major conurbations.”