Schroder European Real Estate Investment Trust has completed the purchase of a freehold logistics property in Rumilly, France for €8.6m. The 16,700m² warehouse was acquired off a net initial yield of 7% and is fully let to a strong covenant, a subsidiary of the global food and drink manufacturer Nestlé, with an unexpired lease term of c. 7.5 years.
In line with the company's winning centres strategy, it is located in a region which economy is expected to grow faster than the national average. The asset also benefits from being situated in the area with a limited supply of properties of such kind.
