Valad, the European multi-let real estate investment manager, has let 2,152 m² of industrial space to two new tenants and renewed a lease on 2,340 m² of space at VALAD PARC du Val D'Argent.
These leases, secured on behalf of Valad's European High Income Fund (EHI), have a combined rental income value of nearly 278,000 for a total of 4,500 m².
Europe Service Group, the waste management and industrial cleaning business has agreed a seven-year lease on 1,152 m² while Telliers, a wholesaler of catering and electrical goods, agreed a two-year lease on 1,000 m². Koyo France, a global supplier of bearings and steering systems, renewed its existing lease at the Parc for 2,340 m² of space.
Located in the town of Argenteuil, 15 km northwest of Paris, VALAD PARC du Val D'Argent has excellent transport links with the A86 motorway and the international airports of Roissy Charles de Gaulle and Orly.
Laurent Roussel, Valad's Head of Asset Management in France, commented: "We are delighted to have signed three leases at VALAD PARC du Val D'Argent. To have secured two new tenants at the same time as renewing an existing lease demonstrates both the quality of the location as well as the strong focus Valad has on pro-active asset management."
EHI is a 745-million pan-European multi-let fund which invests in industrial estates in France, Denmark, the Netherlands and Germany.
Valad's 40 properties in France are held in four of its 15 funds and are worth more than 500 million. Included in this is the Parc d'Activités multi-let industrial fund which is still in its acquisition phase. Valad's French estate comprises 724,000 m² and is home to nearly 900 tenants, managed by its team of 25 experienced property professionals located in its office in Paris.
Source: Tavistock Communications