Cordatus Secure Booker Re-Gear
Acting on behalf of GE Real Estate, Cordatus have successfully re-geared the lease of a 55,000 sqft warehouse unit in Swindon. The unit was let to a subsidiary of Booker but only had 2 years remaining on the lease. Cordatus have secured a new 15 year lease with no breaks to the main Booker covenant in return for granting a market rent free period.
The re-gear added some18% to current value.