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Urban Logistics rents lifted by Brexit and pandemic

The logistics landlord continued to agree rents more than a tenth ahead of passing rates
Urban Logistics rents lifted by Brexit and pandemic
  • Dividend ahead of market expectations but held flat on the prior year
  • Underlying contracted income up 6.5 per cent

Brexit, the pandemic and episodes such as the Suez Canal blockage have driven a shift “from a just in time delivery system, to a just in case” approach among traders, according to Urban Logistics' (SHED) chief executive Richard Moffitt. The industrial landlord has used this sentiment and a space shortage to its advantage, extending some leases at higher rents before the initial term is up. 

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