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In the chair with Regional REIT’s Stephen Inglis on positive new lettings and how they reflect increasingly limited supply

In the chair with Regional REIT’s Stephen Inglis on positive new lettings and how they reflect increasingly limited supply

Regional REIT — 15 videos in collection

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In this interview, Stephen Inglis, head of Regional REIT’s asset manager, ESR Europe LSPIM, and de facto CEO of RGL, talks about the very encouraging leasing transactions just announced. These are 20-year leases and will add c £1.1m to annualised contracted rent and save c £0.7m of property costs. Even more interesting is that the space has been in an un-refurbished condition, and the tenant has committed to undertake substantial improvement works at a cost in the region of £5m. This letting is a great example of the demand that exists for office space in the regions where new supply is extremely limited. Stephen comments that ‘This is one of a number of approaches we have received from tenants unable to identify suitable ready-to-occupy accommodation and are therefore now seeking space that can be refurbished to suit their occupational requirements. I expect this trend to continue as the supply of ready-to-occupy space continues to contract’.

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