Universal Electrical Corporation (UEC) has taken a ten-year lease on a 56,000 sq ft warehouse at Island Road, Peel Ports’ urban logistics development in Reading.
UEC provides systems for power distribution and management and intend to use the unit for general storage and distribution requirements throughout the UK.
The deal means that there is just one, 127,000 sq ft unit available on the site. In October, Argos took a 73,000 sq ft unit at the site.
Neil Dickinson, Peel Logistics Property said: “The confidence we had to speculatively develop the units at Island Road is validated again by this letting to UEC. And Mark Krol at funding partner Rockspring said: “Rockspring’s focus on the development of urban logistics facilities across Europe continues to bear dividends as evidenced again with the second letting in quick succession at Island Road.”
GVA and Haslams are acting as agents on the development.