KCI Medical agrees three year lease extension at Lothbury’s Premier Park, Manchester

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Lothbury Investment Management Limited*, on behalf of Lothbury Property Trust, has agreed a three year lease extension on Unit 12 at Premier Park, Manchester with KCI Medical, the world’s largest advanced wound care company.

KCI Medical, who have been located on Premier Park since 2009, have taken a three-year lease with a one and a half months rent free period on the 6,092 sq ft unit at £7.75 per sq ft, a new record rent achieved on the park, generating an annual rental income of £47,275pa.

Perry Linch, Head of Asset Management at Lothbury Investment Management, said: “Premier Park Manchester is a high quality, multi-let industrial estate. The park remains at 100% occupancy and is one of the top 25 performers in the Lothbury Property Trust portfolio. KCI Medical have a very strong covenant and we are very happy that they have chosen to renew their lease and remain on the park. The excellent rental figure achieved underlines the strong and continuing demand for good quality accommodation at this high profile industrial estate.”

The estate is located one mile to the east of Junctions 9 and 10 of the M60 motorway which links to the national motorway network. Premier Park is also in close proximity to Media City and Manchester City Centre.

Other tenants at Premier Park include BBC, Whirlpool UK Appliances, TFS Buying and Iceland Foods.

Both parties were unrepresented.

*Lothbury Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority.

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Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).

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