Slough Estates International (SEI) has signed 101,619 m² of new leases across its European network since the beginning of 2006, in line with its strategy to extend its presence in Europe.
Central Europe - Poland
In a very encouraging start for SEI in Central Europe, the company has agreed to develop a new 43,000 m² warehouse and production facility in Central Europe for a substantial American manufacturer, which cannot be named due to client confidentiality. Delivery is expected in September 2006. This is SEIs largest ever pre-let in Europe and one of the biggest in the Polish market and is a firm indication of SEIs intent in the region.
Belgium
SEI and joint venture partner KBC Vastgoed, have signed a lease on the Rumst Logistics Park, situated off the E19 motorway which connects Antwerp with Brussels, with Cummins Fleetguard, the filtration subsidiary of Cummins Inc (Cummins), the global engineering firm. Cummins-Fleetguard has entered into a 12-year lease with a break at year 9 on the existing 9,745 m² unit and a guaranteed 4,952 m² extension for delivery in 2008. The warehouse facility at Rumst will be used for the storage and distribution of heavy duty diesel engine filters. This letting is the first on the Rumst Logistics Park, significantly raising the profile of the development as a prime logistics location.
France
SEI has signed a new 6 year firm lease with Procter and Gamble on 8,850 m² at its property at Bondoufle, to the south of Paris. SEI has accepted an early surrender of the lease from the current tenant and will undertake some refurbishment works for Procter and Gamble.
At the Marly Logistics Park, which provides 110,000 m² of warehousing to the north of Paris, SEI has signed a new 3/6/9 year lease with Logista on a 24,500 m² warehouse..
Germany
SEI has also signed 10,572 m² of new leases across its German portfolio since the beginning of the year. The majority of this take up has been through three lettings:
- Dachser, a leading European logistics provider, has taken a new lease on 5,756 m² at Monchengladbach Krefelder Strasse, near Dusseldorf, at an annual rent of €221,028 per annum. The transaction has facilitated the refurbishment and extension of the rest of the property.
- Moletherm has taken a new lease on 1,688 m² at Neuss, near Dusseldorf, at an annual rent of ²150,912 per annum.
- Apex Brazil, has taken a lease on 1,216m at Frankfurt Silostrasse at a rent of €101,000 per annum. Walter Hens, Managing Director SEI Europe said: We continue to make significant progress, in line with our stated strategy of increasing our European footprint. These deals announced today demonstrate the business has delivered an excellent start to the year and reflects stronger demand for our logistic, suburban office and light industrial products in strategic locations.
Source: Slough Estates
