Tritax EuroBox plc has agreed a new five-year lease at the first phase of its two-unit development in Rosersberg, a prime logistics location near Stockholm. The inflation-linked lease has been secured with a Scandinavian photovoltaic company. The letting is for the 5,007 sqm unit at the Company's 13,611 sqm two-unit development, well-located close to Arlanda airport, an established logistics and industrial hub 32km north of Stockholm.

The five-year green lease will commence in March 2024, with 100% CPI indexation, reviewed annually and includes a further five-year extension option. The rent agreed is 3% above the Estimated Rental Value (ERV) as at September 2023 and 20% above the underwrite level. The building includes electric vehicle charging and other sustainability features that reduce its environmental impact, along with the opportunity for a roof-mounted solar PV scheme.

The development is targeting a BREEAM Very Good rating. The combination of this letting and the recent second letting at Settimo Torinese reduces the portfolio ERV vacancy rate to 4.3%, down from 5.5% at 30 September 2023. This recently completed speculative forward funding development was acquired by the Company in August 2022 from Verdion, with each unit subject to a 12-month rental guarantee from practical completion.

The strategic location is adjacent to Motorway E4, providing immediate access to Arlanda airport - Sweden's largest and busiest passenger and freight airport.