Schroders’ Regional Office Property Unit Trust completes a trio of regional lettings

The Regional Office Property Unit Trust (“ROPUT”), advised and managed by Schroder Real Estate, is delighted to announce that it has completed a trio of lettings at properties in Exeter, St Albans and Milton Keynes, with a total annual rent of £685,337.

The Senate in Exeter has been let to Refinitiv, a global provider of financial market data infrastructure. ROPUT and Refinitiv signed a new 10-year lease extension on 9,397 sq. ft. paying a headline rent of £197,337 per annum, or £21 per sq. ft. 

Meanwhile, Centrium, a modern building in St. Albans which was acquired by ROPUT last year, has completed a new seven-year lease on 9,443 sq. ft. with Sketchers, the US footwear company. The rent totals £283,290 per annum, or £30 per sq. ft.

Furthermore, DoTerra, the US-based essential oils company, has increased its occupation at Altius House in Milton Keynes to 8,905 sq. ft. paying £204,750 per annum, or £23 per sq. ft.

Tom Newman, Fund Manager, Regional Office Property Unit Trust, Schroder Real Estate commented:

“We are delighted that Refinitiv, Sketchers and DoTerra have committed their future to these three buildings. This follows investment in the buildings to provide high quality space meeting the need of occupiers.

“At Schroder Real Estate, we are seeking new investments for our regional office strategy with significant new capital to invest in high quality office buildings, let to good covenants, in undersupplied towns and cities with strong and diverse economies.