Thats a large up front payment3 Feb 2014 09:25
SEGRO & Equinix sign development agreement for third data centre on Slough Trading Estate
As part of these agreements, SEGRO received an up-front cash payment of £22.7 million from Equinix and has secured a longer term income stream based on annual ground rents of approximately £2.0 million, with fixed annual uplifts applied every five years. Equinix previously paid SEGRO rent of approximately £2.5 million p.a.