The pet products company currently occupies 21,900 square feet across the two assets, and has agreed to sign a five-year lease extension on unit in exchange for a six month rent free period. The Wrexham lease will now expire in June 2027, and the Rhyl lease in March 2025.
Both transactions secures around
"We are always looking at ways to improve the company's income stream and completing these transactions does just that. Securing our tenant for a longer term could further benefit our property portfolio as it is expected to be beneficial to the capital value of each asset," said Calum Bruce, director of Investment at Ediston Properties Ltd.
Shares in Ediston Property were flat at