Valad, the European multi-let real estate investment manager, has achieved considerable lettings success in France over the past two months, securing a total of 6,389 m² in five lettings at VALAD PARC des Guillaumes, Noisy le Sec, Ile de France.
The lettings comprised three new lettings and two extensions, and all were completed on behalf of Valad's European High Income (EHI) fund.
TEP, the industrial cleaning company, Skyroad, an airline luggage handler and Filou Planete, a children's play zone operator, all signed new nine-year leases on 1,275 m², 990 m² and 1,181 m² of space respectively.
Lift manufacturer KONE extended on 2,110 m² for six years while ETDE, the electricity engineering company, extended on 833 m² for three years.
Located four kilometers east of Paris in the Ile de France region, VALAD PARC des Guillaumes has excellent links with Paris and the rest of France via the A3 and A86 motorways.
Laurent Roussel, Valad's Head of France, commented: "We had a particularly active end to 2011 with five lettings at VALAD PARC des Guillaumes, increasing occupancy at this new development up to 97%. This is an excellent result for investors in our EHI fund as the asset is now almost fully occupied, resulting in a significant increase in income."
Valad's 42 properties in France are held in four of its 15 funds and amount to over 500 million in value. The French estate comprises more than 700,000 m² and 800 tenants, managed by Valad's team of 25 experienced property professionals located in its office in Paris.
Source: Tavistock Communications