Savills IM acquires distribution centres in France and the Netherlands for European Logistics Fund 3
26 January 2021
The international real estate investment manager Savills Investment Management (Savills IM) acquired a total of three logistics properties for its European Logistics Fund 3 (ELF 3) in December 2020: An XXL distribution centre at Vatry Airport in France as well as two Grade A distribution centres in 's-Heerenberg and Wijchen in the Netherlands. Total pricing for all three schemes is around EUR 86 million. ELF 3 thus has a portfolio of seven properties in three countries with a current investment volume of around EUR 230 million.
The French property is located directly at Paris-Vatry airport, in the Grand-Est region, between the regional centres of Reims, Troyes, Metz and Nancy. The established logistics location benefits from excellent access to motorways and the national road network. The building comprises 52,720 sq m of lettable space and is fully let to the logistics service provider XPO Logistics.
The distribution centre in 's-Heerenberg, the Netherlands, has 26,240 sq m of lettable space and is fully occupied by logistics service provider Mainfreight. 's-Heerenberg is located between the densely populated Ruhr and Randstad metropolitan regions. Both conurbations can be reached quickly via the nearby A3 and A12 motorways.
The 17,600 sq m of lettable space in the logistics property in Wijchen is fully let to the IT reseller Central Point and the Novio Packaging Group, a provider of packaging solutions. The surrounding area of Nijmegen, which includes Wijchen, is the most important logistics location in the region. In addition to very good connections to the motorway network, there is also an inland container shipping terminal nearby.
Daniel Hohenthanner MRICS, Director Investment at Savills IM, says:
“We are pleased that, despite the challenging market environment, we were still able to successfully conclude these transactions for the investors in our logistics fund at the end of 2020. The unchanged high level of transactions illustrates once again that the logistics investment market is hardly affected by the lockdown measures. All three properties purchased meet modern standards and are let long term to users from various sectors.”
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