Iceland has signed a new 20-year lease on a 284,000 sq ft regional distribution centre owned by RPMI Railpen, the £30bn pension scheme for retired railway workers.
The deal sees Iceland agree to rent the warehouse in Houstoun Industrial Estate, Livingston, for £6 per sq ft over the 20-year period.
The site would continue to serve as a base for Iceland’s national operational logistics, Railpen said.
“We are very pleased to have agreed a secure, long-term commitment from Iceland at this facility, which ultimately delivers returns for our 350,000 members,” said Railpen asset manager Alastair Dawson.
Poseidon Developments advised Railpen on the deal.
No comments yet