Delin Capital Asset Management (DCAM or the ‘Company’), aleading real estate Company focused on European logistics is pleased to announce the completion of circa 100,000m² of leasing activity across its European portfolio in four separate deals in last few months. The transactions completed are:
- At Waalwijk in the Southern Netherlands, DCAM has agreed a new 12 year lease with Airopack, part of the Kelders group at the 17,340 sqm distribution facility. The new lease follows the recent bankruptcy and administration of the previous tenant.
- At Beiraweg 2-8 Amsterdam Port, DCAM has agreed a lease renewal on its 40,000m² logistics property with the Fetim Group maintaining a 100% occupancy in their Amsterdam portfolio.
- In Eindhoven, Netherlands, DCAM has secured a lease renewal with existing tenant Philips Lighting BV in the 19,900m² facility, extending the lease to mid-2020.
- Finally, at DCAM’s 222,000ft² Agecroft Commerce Park facility in Manchester, DCAM has agreed a re-gear with Bunzl Retail and Healthcare Supplies Ltd, extending the lease to 2027.
When combined, this new letting activity delivers a total annualised income of €6 million representing a 2.6% uplift on the previous rent and has extended the portfolio WAULT by over 1 year.
Ekaterina Avdonina, Managing Director of DCAM commented: “We have had a busy year to date in terms of asset management, working with both existing tenants and new ones, in the case of Airopack. This has led to us lengthening the portfolio lease length and improving the income, underpinning the overall quality of our European distribution portfolio and delivering on our business plans.”
