Savills IM acquires French logistics property for German pension fund
24 October 2023
Frankfurt, 24 October 2023. Savills Investment Management (Savills IM), the international real estate investment manager, has acquired a logistics building near Angers, in the west of France, from an Action Group company as part of a sale and lease back transaction. The purchase was made on behalf of a German pension fund. The portfolio, built up since 2015, has now grown to 11 properties in Germany, France, Italy, Luxembourg and the Netherlands, including one property under construction.
The modern logistics property, completed at the end of 2020, is located in Verrières-en-Anjou near Angers, in the centre of the French region "Grand Ouest". The strategic location in the direct vicinity of Angers, with direct access to three motorways, enables efficient deliveries to all the conurbations in western France (Nantes, Rennes, Tours, Le Mans and Poitiers) as well as the greater Paris area. The approximately 70,000 sqm of lettable space is fully let to the non-food discounter Action on a long-term basis.
The modern building has energy-efficient equipment including LED lighting, light sensors, charging stations for electric vehicles and solar panels on the roof. BREEAM "Very Good" certification is being sought.
Patrick Griesbeck, Senior Investment Manager at Savills IM, says:
“With the logistics property near Angers, we were able to secure another attractive addition to the portfolio in a challenging market environment. Aside from the central location in a dynamic region with a growing population, excellent connectivity and the long-term lease to a creditworthy tenant, the property also meets high ESG and energy efficiency requirements.”
Laurent Vouin, Head of France / Belux at Savills IM, adds:
“We are pleased to add another distribution centre, with an extension capacity, ideally located with access to all the western conurbations, to our existing relationship with Action in France. Despite shifting market conditions, this acquisition demonstrates our continued interest in core logistics assets with strong ESG credentials.”
CONTACT US
Citigate Dewe Rogerson
Stephen Sobey / Will Easton
+44 (0)20 7025 6400
SavillsIM@citigatedewerogerson.com
"Excellent connectivity and the long-term lease to a creditworthy tenant, the property also meets high ESG and energy efficiency requirements."