Tuesday, November 20, 2007

DHL Agrees to €160 Million Sale Leaseback of 26 Logistics Buildings Across France

Segro Web Site - November 15, 2007

Segro has agreed the purchase of a portfolio comprising 26 logistics buildings across France via a sale and leaseback with DHL. The total purchase costs are €159.8m and the portfolio will provide a total annual income of €11.2m representing an attractive net initial yield of 7.0%.

60% of the portfolio is in the Paris region, 10% in Lyon, 12% in Marseille and over 5% in Lille – with the remainder located in Toulouse, Bordeaux, Nantes, Orléans and Strasbourg.

The portfolio totals a built area of c210,000 m² on 70ha of land and comprises distribution and logistics centres used by the DHL Supply Chain and small cross-dock facilities used by DHL Express. All properties will be subject to new, nine year leases with DHL, 20 of them with 6 year break options and 6 of them with 3 year break options

9ha of land has been identified as having immediate development potential and it is estimated that a further 10,000m² of built area can be added in these locations. Sphere: Related Content

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