Internos Real Investors LLP, the 1.5 billion owner-managed real estate fund management business, announces that it has achieved considerable success in new lettings and lease renewals across its five funds and two separate account mandates in Germany and The Netherlands, over the six months period to 30 June 2010.
In Germany, where Internos manages a total of 489,600 m² (1,351,000 m² prior to the sale of the HBI portfolio in April 2010), it has achieved new lettings of some 84,600 m²of warehouse, office and retail space with an annualised rental value of 3.65 million. It has also achieved 190,700 m² of lease renewals with an annualized rent value of 9.33 million.
In the Netherlands, where Internos manages a total of 920,900 m² it has achieved new lettings of 66,750 m² with an annualized rental value of 5.22 million. It has also achieved 44,300 m² of lease renewals with an annualized rental value of 2.21 million.
Tenants include EDEKA Group, Lidl, Netto, REWE Group, and TAKKO Fashion.
Matt Walker, Head of Fund Management at Internos commented: "The lettings markets in these countries are tough, but this first half active asset management performance shows the benefit of having local teams with specialist knowledge and skills in each country."