The Aberdeen Property Trust (“APT”) and Centurion Properties have leased a prime industrial unit at Deeside Industrial Park East to Calbee Inc, Japan’s largest manufacturer of savoury snacks, for its first investment in Europe.
Calbee’s UK subsidiary, Calbee (UK) Ltd, has signed a 15-year lease on unit 90, which totals 64,340 ft² (5.945 m²). The unit was formerly occupied by Greencore.
APT and Centurion agreed a lease surrender with Greencore in October and then re-let the space to Calbee in competition with three other UK locations.
A spokesperson for Calbee (UK) Ltd, said: “We are delighted to establish our first European factory at Deeside, which proved to be the most attractive of the many locations we looked at. Of paramount importance was Centurion’s ability to work within a demanding timescale and deliver our unit ready to begin production early next year”.
APT and Centurion acquired Deeside Industrial Park East, which is seven miles north west of Chester, from Universities Superannuation Scheme in April this year. The purchase price of £34 million (€42.8) reflected a net initial yield of 8% and a reversionary yield of 9.6%.
The 105-acre estate comprises 49 units, totalling 827,500 ft² (76.830 m²). Centurion has initiated an asset management programme of refurbishment of vacant units, alongside rebranding, marketing and repositioning of the estate.
Letting agents at Deeside Industrial Park East are Savills and Legat Owen.
The post Japanese manufacturer establishes European base at Aberdeen and Centurion’s Deeside estate (UK) appeared first on europe-re.
Wirecard AG has committed to Aschheim-Dornach, near Munich, as a long-term location. The company, one of the world’s leading providers of electronic payment and risk management solutions, has expanded its lease with SEB Asset Management to a good 14,000 m² of office and storage space in total. The lease for the Einsteinring 31–39 office complex runs until the end of 2021 and includes two five-year extension options.
In addition to the 9,200 m² of office and storage space it already uses, the technology and payment specialist will successively move into the 4,800 m² of space being vacated in the coming year. The contract means that the 17,300 sqm building, which is located directly next door to the Bavarian capital of Munich, is virtually fully let. Other well-known tenants include Wincor Nixdorf and CI Tech Components.
The office complex comprises five connected wings arranged in a V shape, as well as a large, partially two-storey underground car park with over 460 parking spaces.
Source: SEB Asset Management
The post SEB Asset Management lets over 14,000 m² of space in Aschheim-Dornach to Wirecard (DE) appeared first on europe-re.
ProRail and NS are restoring and renovating the listed station building by the architect Pierre Cuypers. Work was started on the West Wing at the end of November 2014.
The station will have new floors, columns, ceilings and lighting. The entrance lobby to the new West Passage, that is also being built, will be realised.
These passageways will provide unrestricted passage without access gates between the city centre and the IJ bay, and NS will incorporate shopping facilities for passengers who have more time to spend.
The work on the West Wing will be completed in the spring of 2015. After the West Wing, restoration of the concourse will be started. The offices on the first floor that can currently be seen from the central hall will then be removed. Removing them will bring back the line of sight to the platform roofs. Instead of the offices, there will be a balcony linking the central hall with the platforms and the catering facilities there via stairs and lifts.
A staircase and an escalator will be added in the central hall. These staircases will connect the Metro to the central hall. The Amsterdam Urban Region is co-financing the staircases and escalators. The covered arcades on the outer wall, which are also listed, will be restored and put back in place. These restoration and renovation projects will be completed in 2017.
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ActivumSG Capital Management Ltd., the German focused real estate fund manager, has sold the “Accent Office Center“ (AOC) at Hanauer Landstraße in Frankfurt/M. to the GLL of Munich based asset manager GLL Real Estate Partners.
AOC was constructed 2004 and features 22.500 m² office space. ActivumSG had bought the asset in June 2011 refinanced it and leased it up.
Richard Wartenberg, Head of Sales & Acquisitions at ActivumSG Management GmbH states, that “AOC demonstrates how we typically reposition real estate. The asset boasts a good location in the growing East End of Frankurt. But it needed a better management. We identified the potential of the building, took over and realized a dynamic leasing strategy. Today, the building is nearly fully occupied with a well-diversified tenant structure and long leases. The rental level as well is above expectations. Thus, AOC is a fine case study how active management can create core assets.“
AOC is the first investment of GLL Pan European Property Fund, a Luxemburg FCP. With a cap rate of 6,95% the asset makes a rock solid base for the further set-up of the fund, more investments already being under examination. The fund targets institutional investors and aims at a steady dividend payout of over 5%.
ActivumSG was advised by Olswang LLP, Berlin und Hackenberg & Co. GmbH, Frankfurt.
GLL was advised by Jones Lang LaSalle and Clifford Chance, Frankfurt.
The post ActivumSG Fund II sells AOC to GLL Pan European Property Fund (DE) appeared first on europe-re.
LaSalle Investment Management sells two logistics platforms to Standard Life Investments in Brie-Comte-Robert, in Paris region France.
LaSalle Investment Management has announced the sale, on behalf of the funds LaSalle French Fund II, of two platforms located in Brie-Comte-Robert (77) to Standard Life Investments. The amount of the transaction is confidential.
The two buildings develop a global surface of 88,000 m² approximately (64 000 m² and 24 000 m²) and are rented to the companies Point P and DSC (Group Saint Gobain). In this transaction, BNP Paribas Real Estate advised the seller.
Source:BNP Paribas Real Estate
The post LaSalle Investment Management sells two logistic platforms in Paris region, France (FR) appeared first on europe-re.
Clearbell, the private equity real estate fund management business, has marked the launch of its south-east focussed office portfolio with the £13.5 mln (€17 mln) purchase of a 106,200 ft² (9.847 m²) office complex in Crawley, Sussex, close to Gatwick Airport. Clearbell is committing £50 mln (€63 mln) of equity to the overall portfolio which, with a loan-to-value ratio of 50%, would create £100 mln (€126 mln) of acquisition firepower.
The new platform is targeting offices predominantly in south-east locations with strong transportation links diminishing supply and strong economic growth. Clearbell is targeting office assets, which typically require significant asset management. Performance is also expected to be driven by ‘ripple effect’ whereby both rental growth and yield compression are now spreading from London towards the wider south-eastern region and strong regional towns and cities.
Clearbell’s first acquisition is the £13.5 mln (€17 mln) purchase of Churchill Court at Manor Royal Business District in Crawley, one of the biggest business parks in the south east and home to more than 500 companies. Bought from Churchill Court ltd, the current rental income is £1.47 mln (1.8 mln)per year with a net initial yield of 10.3%. Clearbell plans an extensive programme of refurbishment after tenant lease expires, starting with an already vacant office building, with a view to repositioning the office complex in what is a supply-constrained market.
Rob West, Partner at Clearbell Capital, commented:“The market is improving for fringe London and south-east offices and we see potential to capitalise on the so-called London ripple effect. With £100 mln (€126 mln) of firepower, we aim to rapidly build a portfolio of unloved office buildings that are ripe for repositioning.”
Vail Williams advised Clearbell and JLL advised Churchill Court ltd.
The post Clearbell targets to build a €126 mln office portfolio (UK) appeared first on europe-re.
Skanska Property Poland has launched its second office investment in Malopolska region’s capital. Axis office building, located a few minutes from the center of Krakow, will offer its tenants ca. 20,000 m² of modern office space. The project’s completion is scheduled for Q4 of 2016.
The new building will have 9 floors and three underground levels with car park and technical rooms. Bordering a local green area, the complex will be built in accordance with Workplaces by Skanska philosophy, which focuses on creating open and friendly working places. The amenities located on the ground floor, as well an unique footpath leading across the building will be of use to both employees of future tenants’ companies and local residents.
Axis will stand near Przy Rondzie Street in the vicinity of Mogilskie Roundabout, one of the most important transport hubs in Krakow. Numerous tram and bus lines in the area guarantee quick and easy access to Krakow Railway Station and the Old Town. Furthermore, Krakow’s second ringroad is directly accessible from the roundabout.
“For us, Krakow is a natural place to run a business. We recognized its potential when we were developing our first investment here – the Kapelanka 42 office complex, which quickly found both tenants and its first purchaser. Axis answers the investors’ growing demand for high-class office space in the city so that they are able to develop new workplaces,” comments Mariusz Krzak, Regional Director at Skanska Property Poland.
Axis will be another green building built by Skanska. This means that the project will be innovative, have a reduced impact on the environment, and offer highly comfortable working conditions in offices as well as reduced maintenance costs. Furthermore, undergoing the international LEED Gold certification, will further underpin the project’s green credentials. When compared to local standards, the building will consume 25% less energy and 40% less water. During its construction, 94% of the waste generated by the project will be recycled, and a majority of building materials will come from regional sources. The project will also be equipped with bike parking spaces with locker and shower rooms as well as charging stations for electric cars.
The post Skanska invests €37 mln in office project in Krakow (PL) appeared first on europe-re.
IMMOFINANZ Group has acquired the “Production Technology Cluster” development project on the RWTH Aachen Campus from the German capricorn Group and plans to complete construction by autumn 2016. With 28,000 m² of rentable space, the Campus currently represents the largest cluster building in the Campus Melaten expansion sector of RWTH Aachen University (Rheinisch-Westfälische-Technische Hochschule).
This acquisition involves the takeover of the project company, capricorn CAMPUS GmbH & Co. KG, as well as all relevant planning contracts by IMMOFINANZ. The parties have agreed not to disclose any information on the purchase price for the transaction. The total investment volume is estimated at approx. €63 mln. Construction will start in spring 2015, and completion is scheduled for autumn 2016.
“The Campus project has a high share of pre-rentals and long-term leases. Contracts have already been signed for more than 50% of the rental areas and, with the previously registered space requirements, we have already reached an occupancy level of roughly 80%”, indicated Eduard Zehetner, CEO of IMMOFINANZ Group. “This represents the next step in the announced expansion of IMMOFINANZ Group’s development business in Germany.”
Günther Schuh, Managing Director of RWTH Aachen Campus GmbH added: “We are pleased to have found a strong and highly competent partner in IMMOFINANZ. These experts immediately recognised the strategic dimension of our Campus project.”
With the RWTH Campus, RWTH Aachen is continuing its transformation into one of the world’s leading technical universities. One of the largest technology-oriented research landscapes in Europe is currently under development at the RWTH Aachen in 19 research clusters on 800,000 m².
The first development section in the Production Technology Cluster is a three-section building complex, which includes offices and hall facilities. The building complex, which was designed by the Munich star architect Henn, is characterised by flexibility, a modular layout and sustainability and will provide nearly 800 scientists and production technology experts with space for their research.
The post IMMOFINANZ acquires €63 mln development project in Aachen, Germany (DE) appeared first on europe-re.
CBRE Global Investment Partners (CBRE GIP) has committed a further £25 mln (€31.5 mln) to Roxhill Developments Group Limited (Roxhill), one of the UK’s leading logistics developers. CBRE GIP originally invested in Roxhill in 2012 via a co-investment vehicle with Forum Partners. Forum Partners had provided seed capital to Roxhill alongside management and Abstract Securities in 2010. Roxhill is now capitalized with £105 mln (€132 mln) of equity and no debt.
CBRE GIP’s new investment will allow Roxhill to unlock the development potential of a land bank of over 1,850 net developable acres at 24 sites. These sites are strategic logistics locations in the Midlands and South East England and have received, or are in the process of receiving, planning permission to develop prime logistics facilities totaling over 33 million ft² (3 mln m²).
Roxhill has already completed several lettings and freehold sales to major 3PLs including Kuehne + Nagel, Dachser, DPD, DSV and Yearsley and retailers including Farmfoods, H&M, Dr Martens and Travis Perkins.
Commenting on the acquisition, Alex Bignell, UK Managing Director at CBRE GIP, said: “This investment demonstrates CBRE GIP’s ability to access investment opportunities with strong market fundamentals in partnership with leading specialist operators. The UK has a structural under-supply of large modern warehouses to serve growing e-commerce-driven demand. Roxhill has assembled a strategically located portfolio of sites and is uniquely well placed to capitalize on occupier demand for logistics facilities.”
Jason Dalby, Managing Director at Roxhill added: ”Roxhill is delighted to announce this additional £25 mln (€31.5 mln) of funding from CBRE GIP. This will allow Roxhill to take forward some of our major schemes which require more capital for land purchase and implementation of infrastructure.”
Source: CBRE Global Investors
The post CBRE Global Investment Partners makes additional investment in Roxhill Development Group (UK) appeared first on europe-re.
Benson Elliot, the UK-based private equity real estate fund manager, announces the sale to Aviva Investors of Ealing Cross, a grade A office building in Ealing town center, and the completion of a forward sale of 1-8 The Broadway, also in Ealing, to Pramerica Real Estate Investors.
The sale of 1-8 The Broadway, constituting the first phase of Benson Elliot’s re-development of the Arcadia Portfolio, was agreed in January of this year. The combined sale price of the twin disposals is north of £100 mln (€126 mln).
Benson Elliot acquired Ealing Cross, the highest quality, most modern office building in Ealing, in June 2013. Soon after acquisition, Benson Elliot initiated a refurbishment of the 133,400 ft² (12.356 m²) building’s common areas, secured planning permission to more than double parking provision and, in November 2013, rolled out a new marketing and letting strategy. During the subsequent months Benson Elliot secured five new tenants, increasing occupancy at Ealing Cross from 68% to 93%, and improving significantly the building’s income profile.
The forward sale to Pramerica of 1-8 The Broadway was announced in January 2014. Completion of the £37.4 million (€47.3 mln) transaction marks the culmination of a transformational redevelopment of the former Arcadia Shopping Centre, with the handover of three new store units to major high street retailers Morrisons, TK Maxx and McDonalds.
Trish Barrigan, Benson Elliot Senior Partner, said: “We’re real believers in the investment attractions of Ealing, and pleased with the central role we’ve been able to play in the transformation of that community’s town center. On Ealing Cross, the property’s strong letting performance and an unsolicited approach persuaded us to exit earlier than planned, but we’re confident Aviva will be good stewards of this prime asset going forward. At Benson Elliot we’ll now focus our attention on the re-development of the remainder of the Broadway site, working with local planning officials and community groups to conceive an exciting new retail and residential offering for Ealing’s Crossrail gateway.”
Strutt & Parker and GCW advised Benson Elliot on the sale of 1-8 The Broadway, while JLL advised on the Ealing Cross transaction.
The post Benson Elliot sells Ealing Cross to Aviva Investors (UK) appeared first on europe-re.
So mancher Hausverkauf oder Mietvertrag ist schon am Bad gescheitert. Unmoderne Fliesen, eine ungünstige Aufteilung, zu wenig Licht – wer will so schon in den Tag starten? Wir erklären Ihnen, wie Sie das Bad zeitlos schön gestalten.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 21 Nov 2014, 8:32 am
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