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Regional REIT (RGL) has completed two new leases of previously vacant office space, to a single occupier, on a 20-year lease. This adds c £1.1m per year to contracted rent and saves c £0.7m of vacant property costs. The offices have been rented in an unrefurbished condition, with the tenant undertaking substantial improvement works at a cost in the region of £5m. This letting provides evidence of the underlying demand that exists for office space in the regions where new supply is extremely limited.
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Regional Reit (RGL)
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