Deutsche Lagerhaus (DLG), a wholly-owned subsidiary of IMMOFINANZ Group, has sold its logistics property in Vaihingen an der Enz, Germany, which was jointly held with greenfield development to the Dutch company Geneba Properties N.V. The sales price exceeded the book value, the transaction took place as a share deal. The property is a proprietary development built in 2013/14 as part of a joint venture (75% DLG, 25% greenfield).
“This transaction not only confirms the increased interest in logistics assets in Germany and therefore the positive dynamics of this asset class; the development and subsequently the rapid sale of the property in Vaihingen are in fact a prime example of the functioning of our real estate machine”, says Eduard Zehetner, CEO of IMMOFINANZ Group. “IMMOFINANZ was able to generate a substantial development profit with it regarding building costs”.
The property sold is centrally located on a 71,535 m² site at Otto-Hahn-Strasse 10 in Vaihingen an der Enz in Southwest Germany. It has a good connection to the German motorway system in all directions. There is also a sufficient number of parking spaces for cars and trucks.
Construction began in July 2013 and was completed on schedule at the beginning of 2014. The 44,456 m² of total lettable space has been allocated in its entirety to well-known logistics companies: DSV (30,539 m²) operates a central warehouse for electric power tools (AEG Powertools, Milwaukee); the company Dachser uses its lettable space (13,917 m²) among others for handling Tesa products.
The post IMMOFINANZ’s subsidiary, DLG sells logistics property in Vaihingen (DE) appeared first on europe-re.
Helical Bar announces that it has secured a new £81 million (€103 mln) ten year debt facility from Aviva Commercial Finance, refinancing £27 million (€34 mln) of existing debt and boosting cash reserves by £54 million (€68 mln). The terms of the facility, repayable in December 2024, allow drawdowns of up to 63% of value and benefit from a fixed interest rate of 3.48%.
The new facility has refinanced two London office buildings at Shepherd’s Building, London W14 and One King Street, Hammersmith, London W6 and a retail asset at the Morgan Quarter, Cardiff.
Tim Murphy, Finance Director at Helical Bar plc, commented: “Helical has a long standing relationship with the team at Aviva and we are pleased to continue this relationship with agreement of this new ten year fixed rate facility which has extended the maturity on total secured debt within the Group to 4.5 years at an average cost of 4.0%.”
Barry Fowler, Managing Director at Aviva Commercial Finance, said “We’re delighted that we’ve been able to refinance this well established portfolio with such a valued client as Helical Bar. We have substantial funds to invest from five years upwards and a very strong appetite for lending.”
Source: Helical Bar
The post Helical Bar secures €103 mln refinancing of office and retail assets with Aviva Commercial Finance (UK) appeared first on europe-re.
Development Securities and L&Q, today announce that they have entered into a partnership to deliver the residential quarter at 399 Edgware Road, a £150 million (€191 mln) mixed-use regeneration project in North West London. Under the terms of the partnership, L&Q will fund the construction and delivery costs for the development of 183 apartments and town houses, with Development Securities acting as development manager.
Sales profits generated through the joint venture will be split between Development Securities and L&Q, and the deal is anticipated to generate total profits of up to £12.0 million (€15 mln) to Development Securities over the next 3 years.
Development Securities will manage the construction, marketing and sales of the residential units which are anticipated to be completed in Q3 2017. Once the construction and sales of the residential units have completed, Development Securities will receive a performance fee and a profit share of approximately £8.0 million (€10 mln).
Michael Marx, Chief Executive, Development Securities PLC said: “Today’s announcement demonstrates further excellent progress at 399 Edgware Road and a significant transaction for the Company.”
Jerome Geoghegan, Group Director of Development and Sales at L&Q, said: “We are delighted to be working in partnership with Development Securities to develop much needed, high quality homes at this landmark site. This agreement will help create a vibrant new quarter in North West London, bringing together an exciting mix of new retail, community and educational facilities with the additional homes that London so desperately requires.”
Planning permission was secured in May 2013 for the redevelopment of 399 Edgware Road in North West London, to transform a 7-acre derelict site into a vibrant new mixed-use community. The development will deliver a large format Morrisons food store with a 368-space car park, a new 56,000 ft² (5.202 m²) oriental and far eastern retail and leisure quarter, a new residential community with a mix of 183 apartments and townhouses as well as a two-form entry primary school.
Source: Development Securities
The Hamburg-based retail real estate expert Prelios Immobilien Management is developing and letting a shopping center in the heart of Husum on behalf of Husum Shopping Center GmbH, and will also be responsible for the management of the center. The rental space totalling some 10,000 m² is to be completed in 2018. The basic area of the centrally located shopping center will comprise the former “Hertie” department store on Großstraße plus an existing car park.
Martin Mörl, Managing Director of Prelios Immobilien Management commented: ”Our objective is to upgrade Husum’s city center with a contemporary shopping center to provide fresh impetus and increase visitor frequency. We are therefore placing great emphasis on visitor experience, a sustainable concept as well a customer-oriented tenant and product mix which fits to Husum, and is an ideal addition to the existing offering.”
The new shopping center comprises around 35 large and small rental spaces for groceries, textiles, fashion, services, drugstores, restaurants and health. “We want to bring new brands and tenants to Husum and will begin the pre-letting-process in January. After conducting a thorough location and market analysis, we have identified a particularly strong demand for textiles and groceries. We have already received some specific enquiries from these sectors”, added Mörl.
Dr. Gisbert Beckers, one of Husum Shopping Center GmbH‘s two managing directors, commented: “The project development is based on a sound concept for the city center. In Prelios Immobilien Management we have found a highly competent retail real estate partner for the development and ongoing operation of Husum’s new shopping centre.”
Husum, located on the North Sea coastline close to the North Frisian Islands, is a catchment area for more than 340,000 consumers and an estimated three million visitors per year and is North Frisia’s economic center. Located at the World Heritage Site of Schleswig-Holstein Wadden Sea National Park, tourism and renewable energy are the region’s main industries. Husum has an extremely high retail trade centrality rate of more than 219%.
The international advisory firm JLL has been selected as an exclusive agent, responsible for the process of leasing retail and office space in CEDET – Immobel’s flagship investment project in Warsaw. CEDET is a unique project involving the restoration and expansion of a historic, modernist building from the 1950’s, located in the very center of Warsaw on Krucza Street.
In total, the investment is to consist of two parts, a revitalized old department store and a brand new building at the junction of Bracka and Krucza Streets. CEDET’s offer will comprise 15,000 m² of office and 7,000 m² of retail space. Two architectural studios, namely AMC – Andrzej M Cho?dzy?ski and RKW Rhode Kellermann Wawrowsky, are responsible for the scheme’s design. The completion of its construction works is scheduled for Q2 2017.
Anna Wysocka, Head of Retail Agency, JLL Poland, commented: “We are glad of the opportunity to work on such a unique project as the revitalization and extension of CEDET. Thanks to enterprises such as Immobel’s investment, retail in the city center goes from strength to strength. CEDET is indicative of the profound changes currently taking shape as the capital retail market enters another stage of development. In Warsaw, apart from shopping malls, there are also unique schemes being developed on the high street. Investors, developers and retailers recognize the potential in such locations. Furthermore, CEDET gives an opportunity in the city center for tenants looking for larger high quality premises, located on one of Warsaw’s main high streets”.
The post JLL selected as exclusive leasing agent for CEDET in Warsaw (PL) appeared first on europe-re.
Ende November hat die neugegründete Tochter der IMMOVATION-Unternehmensgruppe, die Immokles AG, das knapp 98.000 m² große, ehemalige Robotron-Areal in der Dresdner Innenstadt erworben. AENGEVELT war im Exklusivauftrag des Verkäufers mit der Investorensuche beauftragt und vermittelnd tätig und hat an der Entwicklung des zukünftigen Nutzungskonzeptes und Rahmenplans mit Schwerpunkt „Wohnen“ mitgearbeitet. Die Verkäufer wurden zudem von Lohnbach Investment Partners beraten.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 22 Dec 2014, 7:25 am
How has the retail market evolved in the last ten years in your view?
In 2006 there were no smartphones, 2007 was the advent of the iphone and that fundamentally changed everything. Obviously the birth of the web in the mid-90s had a significant impact, and led to a shift in power transfer away from the retailer, back to the consumer, as the consumer has so much choice now at the click of a mouse. I also think the way people shop is fundamentally different and in addition, they are working longer hours. Consumers are shopping little and often-their propensity to shop has increased, but they are not buying as many things at one time. Convenience therefore, is really the key to driving that experience. Obviously now because of the web we can also see prices, everyone has to be transparent because customers can shop online.
Tell us a little bit more about the new franchise concept BB’s Warehouse and what makes it unique?
BB’s is essentially a trial warehouse concept, which we haven’t franchised yet, although we do intend to do so. The customer value proposition is quite simple–the more you buy, the more you save. It goes back to the cash-and-carry model in a way, as it is about bulk buying and making shopping an enjoyable experience. We have great products, great deals, and we create a bit of a buzz, excitement in the store. It is a very different model to the one we have operated previously.
You are mainly operating stores in the UK, what are the challenges and opportunities in the retail industry in the UK compared to other EU countries?
The UK is very much known for its excellence in supermarket retailing. I genuinely believe that we lead the way in supermarket retailing. If you look at all of the grocery players in the UK market and the types of customer experience that they offer, they are very often first to market with new developments, even ahead of other sectors like fashion. The UK market is also very competitive. There is obviously a bit of a price war going on, which I am not sure is a sustainable, long-term scenario for anybody in this space. Despite the fact that it is extremely competitive, the market is moving and developing at a pace that is extremely exciting.
Online shopping has dominated in the last decade, how has this influenced your operations? Are you planning to launch an exclusive online concept brand?
Online is not on our current agenda; we are not planning to launch an exclusive online concept brand, but we never say never. However, we absolutely see online as a key part of our strategy and there are a number of developments that are going to be coming out over the next few months. Conviviality Retail will be doing some interesting things in this space within the next few months, which is going to open up channels and give customers more choice about how they engage with us.
In your opinion which trends will dominate the retail market in the next few years?
I keep hearing that in retail everything is about the customer, and retailers are putting the customer at the heart of everything that they do; but in a general sense, few retailers are really delivering on that promise. The sector is going to move towards a much more personalized experience as consumers are no longer prepared to have a mass-market customer experience. Customers would like to be treated like individuals. They want to get the right communication at the right time, the right product offer at the right time and the right channel. They want incentives, and to be motivated with personalizedpropositions.
We are all task rich and time poor, and therefore the immediacy of how we can buy products in respect of the category, is absolutely crucial. Retailers that are able to deliver a personalized experience, and join everything together to drive an immediate experience and the most convenient customer proposition, are the ones ultimately moving forward.
Speaking about convenience, what do you think is the significance of logistics in the next ten years?
At the moment, logistics is the key battle-ground for every retail category whether that is convenience, groceries, alcohol, or fashion. Retailers have to think about customer relevance. You fundamentally have to let customers buy from the channel of their choice and return goods to the channel of their choice. Ultimately, finding ways of fulfilling customer orders, as quickly and as profitably as possible is crucial. It is not always easy but a balance must be struck. Fundamentally, retailers have to find a way of delivering the right experience to the customer; and that is about speed, and doing it on customers’ terms.
The post Martin Newman, Non-Executive Director, Conviviality Retail plc appeared first on europe-re.
München, 17. Dezember 2014. Im Luxussegment bringt die Lage allein das Betongold noch nicht zum Glänzen. Laut des Münchner Immobilienvermittlers eigenwert GmbH kommt es zusätzlich auf das Potenzial und die emotionale Rendite des Objektes an. „Die neuen Eigentümer investieren hohe Beträge, um ihre ganz persönlichen Vorstellungen im Objekt realisieren zu können“, sagt Michael Ostermaier, Immobilienberater bei eigenwert. Der Immobilienvermittler, der in nahezu allen Immobiliensegmenten und Preisklassen Einheiten veräußert, beobachtet eine anhaltend gute Nachfrage nach Luxusimmobilien.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 19 Dec 2014, 12:45 pm
Goodman, a leading owner, developer and manager of logistics properties in Europe, has completed its thirteenth project for Amazon, bringing the Group’s total space delivered for the global ecommerce giant to one million m² in Europe over the past eight years.
The latest and most advanced fulfilment center developed by Goodman for Amazon, located in Wroclaw, Poland, officially opened on 28 October.
Goodman’s relationship with Amazon began in 2006 with its first development project in Leipzig, Germany, for a 78,000 m² regional fulfilment center. Since then, the two parties have worked together to help expand Amazon’s European operations, by developing a total of 12 modern fulfilment centers across Germany, France, Poland and the United Kingdom, to bring Amazon closer to its customers. Goodman’s ability to meet specific and challenging design requirements, its speed and quality of construction, and its strategically located land-banks have made Goodman a leading developer for Amazon in continental Europe.
“Goodman has shown itself to be an incredibly creative and innovative partner, each time doing things a bit faster and a bit better,” said Tim Collins, Vice President European FC Operations, Amazon. “We have been incredibly excited to work with Goodman as there are very few partners who could do what Goodman has done.”
The forward-looking 123,000 m² development in Wroclaw represents the latest generation of Amazon fulfilment centers, which introduces Amazon’s new global standard layout design. This new standard will enable Amazon to streamline development of its fulfilment centers and benchmark productivity. Prior to development, Goodman toured the first generation of these facilities in the United States in order to quickly and accurately complete development.
“Our relationship with Amazon is a true long-term partnership,” Philippe Van der Beken, Goodman Managing Director Continental Europe, explained. “Together we have designed an entirely new generation of logistics properties that are specific to the needs of the ecommerce industry, which requires much more complex and intelligent design combined with the expedient completion of quality properties.”
The post Goodman delivers over one million m² for Amazon across Europe (EU) appeared first on europe-re.
W. P. Carey Inc., a real estate investment trust (REIT) specializing in corporate sale-leaseback financing, build-to-suit construction financing and the acquisition of single-tenant net-lease properties, announced today that CPA®:18 – Global, one of its managed non-traded REITs, has acquired a single tenant office building and an adjacent multitenant high-rise tower in Rotterdam, Netherlands for approx. €69 million.
The single tenant office building will be leased to the world’s largest independent tank storage provider, specializing in the bulk storage and handling of liquid chemicals, gasses and oil products.
Jason Fox, Co-head of Global Investments of W. P. Carey, said: “This acquisition by CPA®:18 – Global marks the second major transaction by one of our managed REITs in the Netherlands this year. The investment further reinforces our role as a capital source for European companies, developers and investors looking to recycle capital into new investments. The long-term lease commitment, coupled with the inherent value of the asset itself, is representative of the criteria we look for when sourcing and structuring portfolio acquisitions.”
Source: W.P. Carey
The post W. P Carey €69 million acquires city center Rotterdam office towers (NL) appeared first on europe-re.
München, 19. Dezember 2014. Für den Münchner Immobilienvermittler eigenwert GmbH geht das Jahr 2014 erfolgreich zu Ende: Binnen acht Monaten hat das Unternehmen alle 70 Wohneinheiten des Objektes „lifeapp2“ veräußert. „Die Nachfrage nach kleinen Appartements ist in München enorm. Im Fall von ‚lifeapp2‘ waren die Einstandspreise von 130.000 Euro für die rund 17 bis 36 Quadratmeter großen Einheiten für viele Immobilieninteressenten ausschlaggebend für den Kauf“, sagt Claus Kiermaier, Geschäftsführer der eigenwert GmbH.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 19 Dec 2014, 10:24 am
According to international real estate advisor Savills, total 2014 investment volumes in the Netherlands will reach over €8 billion, substantially higher than 2013 which totalled €4.7 billion.
Clive Pritchard, head of Savills Netherlands, comments: “The increase in volume was boosted by foreign investors, who were responsible for around two-thirds of the investment volumes of 2014.”
Savills reports that portfolio deals dominated the market in the Netherlands in 2014 accounting for 42% of total investment volumes. Deals of note include Lone Star’s purchase of 32 offices from CBRE GI for €385 million, Blackstones purchase of 14 shopping centres from CBRE GI for €240 million and Round Hill’s purchase of a residential portfolio for €180 million, which was its third residential purchase in 2014. This deal demonstrates the significant increase in interest from international investors in this sector, with BNP Paribas, REIM, Aventicum, Patrizia and Heitman also entering the Dutch residential market in 2014.
Jan de Quay, director of investment at Savills Netherlands, adds: “We predict that yields will remain fairly stable, as investors interest and the increase of debt in the market will have an overflow effect towards core+, value-add and opportunistic properties. However, we could see yields contract slightly for the best quality sites.”
Savills states that total take up for all sectors could reach between 4 and 4.1 million m², very similar to the 2013 total which was 4 million m². Both the office and the industrial sector are forecast to show slightly lower take up than in 2013. Take up for offices will reach 1.13 million m² by the end of the year, compared to 1.15 million m² in 2013 and industrial demand is forecasted to reach 2.45 million m², compared to 2.47 million m² in 2013. Retail take up increased by approximately 25% on 2013 numbers to reach 465,000 m² for the full year.
The post Total investment volumes in the Netherlands to reach over €8 billion for 2014 (NL) appeared first on europe-re.
AXA Real Estate Investment Managers SGP, an affiliate of AXA Real Estate Investment Managers (“AXA Real Estate) announces that it has completed two acquisitions in France for a total consideration of approx.€115 million on behalf of AXA Selectiv’ Immo (“the Fund”).
The acquisitions comprise the purchase of Eurosud office building in Lille and a 50% interest in Le Diagonal asset in Châtillon, Paris, as part of a joint venture.
These transactions, which followed shortly after the acquisition of two assets in Madrid and Rome, demonstrate AXA Real Estate’s ability to source high quality investment opportunities for its clients both in France and internationally. The acquisitions are in line with the Fund’s core strategy of building a portfolio of assets which is diversified across Europe and mainly invested, today, in office, residential and retail sectors. Following these acquisitions the Fund’s portfolio comprises 18 assets located in France, Spain and Italy, valued at €460 million.
Eurosud, 179 Boulevard de Turin, Lille is an eight storey office building built in 2006 which is let to a range of good quality tenants. The 75,068 ft² (approx. 6,974 m²) property is located in Euralille, which is France’s third largest business district and is close to the Belgian border.
Le Diagonal, 140-166 avenue de la République is located in the Châtillon area of Paris and is a freehold property which AXA Real Estate has acquired, on behalf of a 50/50 joint venture between AXA Selectiv’ Immo and an AXA Insurance Company. It comprises 204,000 ft² (approx.19,900 m²) of office space across two separate buildings which are fully let to two multi-national companies.
Antoine Aubry, Fund Manager of AXA Selectiv’ Immo, said: “These acquisitions build on the momentum we have achieved this year in growing the Fund’s real estate portfolio through the sourcing of high quality assets which boast attributes such as prime locations, striking designs and first-class tenants. Through effective diversification of the portfolio we have improved the income resilience on a long-term basis.”
Source: AXA Real Estate
The post AXA Real Estate completes two acquisitions in France for approx. €115 million (FR) appeared first on europe-re.
„Jüngst gab es im Landtag NRW eine Expertenanhörung durch den Haushalts- und Finanzausschuss zur geplanten Preisführerschaft bei der Grunderwerbsteuer durch die NRW-Landesregierung um 30% von aktuell 5% auf 6,5%. 25 Immobilien-, Bau- und Wirtschafts-Experten bzw. -Expertengruppen von der Architektenkammer NRW über das Institut der Deutschen Wirtschaft und Haus & Grund Rheinland bis hin zu BFW Landesverband NRW, IVD und ZIA gaben vor den Abgeordneten ihre fundierten Stellungnahmen ab. Auch unser Haus war eingeladen. Von den 25 Experten äußerten 24 zum Teil massive Bedenken gegen die Grunderwerbsteuererhöhung und begründeten diese mit schlagkräftigen, stich- und nachhaltigen Argumenten. Einer der Hauptgründe für die Ablehnung ist die markante Mehrbelastung der Privathaushalte und hier besonders der sogenannten Schwellenhaushalte, die beim Immobilienerwerb mit sehr knappem Budget operieren.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 18 Dec 2014, 11:11 am
Leipzig, 17.12.2014. Berlins Beamte müssen ordentlich schuften. In jedem Fall die auf dem Bauamt. Denn in diesem Jahr wurden so viele neue Wohnungen bewilligt wie lange nicht. Nach Angaben des Statistischen Landesamtes Berlin-Brandenburg wurden in den ersten drei Monaten dieses Jahres stolze 14.466 Wohneinheiten neu genehmigt. Das entspricht einem Plus zum Vorjahreszeitraum von über 60 Prozent.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 18 Dec 2014, 10:11 am
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