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Panther Securities PLC signed a new lease for the majority of its Bentalls Complex, Maldon property, generating £800,000 per annum. This new lease, effective from 1 March 2022 for a five-year term with a mutual rolling break from the third anniversary, replaces a previous lease that generated £650,000 per annum.
| Date | 21 Feb 2022 |
| Time | 07:00:07 |
| Category | Corporate updates |
| ID | 2019C |
21 February 2022
Panther Securities PLC
(the "Company" or the "Group")
Further re. Bentalls Complex, Maldon
Further to the announcement dated 8 November 2021 in which the Company advised that the main tenant of Bentalls Complex, Maldon had decided to terminate the lease on 14 November 2021, the Company is pleased to announce that a new lease has been signed for the majority of the property for £800,000 pa (the previous lease generated £650,000 pa) with effect from 1 March 2022.
The property is let on a Full Repairing and Insuring lease, subject to a Schedule of Condition, for a period of five years with a mutual rolling break from the third anniversary whereby either party can serve six months' prior written notice.
The Bentalls Complex comprises a 200,000 sq ft high bay industrial building standing on a 9-acre site.
For further information:
Panther Securities plc: Tel: 01707 667 300
Andrew Perloff / Simon Peters
Allenby Capital Limited (Nomad and Joint Broker) Tel: 020 3328 5656
David Worlidge/ Alex Brearley