9th Nov 2006 15:29
9th November 2006 SLOUGH ESTATES PLC SIGNS EUR103M EUROPEAN SALE AND LEASEBACK AGREEMENT WITH ANTALIS Slough Estates International ("SEI") and Antalis have concluded an agreementunder which SEI will acquire a portfolio of logistics and light industrialproperties, in a sale and leaseback arrangement. Antalis is the largestEuropean distributor of communications support products (including packaging,paper, print & office materials)The portfolio is concentrated around major cities in eight European countriesincluding France (Lyon, Isle de France in Paris), Belgium (Brussels), Italy(Bologna, Parma) Spain (Madrid, Valencia), Germany (Berlin, Leipzig) and alsoin Switzerland, Portugal and Finland - amounting to 177,120m2 and 41.4 hectaresof land. SEI is paying EUR103.2m for the properties. The transaction representsa post acquisition costs yield of 7.23 per cent.Forty five percent of the portfolio is in Italy and Spain, which are major newstrategic territories for SEI in Continental Europe. Almost forty per cent ofthe portfolio is in Belgium, Germany and France, where SEI is already wellestablished.The core properties are in Slough's strategic growth markets. The buildings area mixture of old and new properties in good locations, providing excellentfuture development potential underpinned by an income stream. Antalis iscommitted to the properties it occupies for an average of approximately 7.5years.SEI and Antalis have also signed a partnership agreement, covering both theextension of existing properties and the potential development of newproperties. This partnership agreement will also provide potential synergies inmarkets other than those covered by the deal being announced today - it coversthe UK as well as Continental Europe. Walter Hens, SEI Managing Director Continental Europe, said:"This is an excellent opportunity to acquire realistically priced real estate,providing a strong combination of income with medium-to-long-term investmentpotential. We are also particularly pleased to be working with Antalis as apartner going forward."Ian Coull, Chief Executive of Slough Estates plc, said:"This agreement further reinforces our strategy of developing our continentalEuropean portfolio and in particular gives us an entry into the strategicallyimportant markets of Italy and Spain. It has also been our aim to establishcorporate partnering with a major international company and we look forward toworking with Antalis in the future." -ends- For further information please contact:Slough Estates plc Maitland Michael Waring Colin Browne Tel: 01753 213335 Tel: 0207 379 5151 Notes to editorsSlough Estates InternationalSlough Estates is the leading European provider of flexible business space andowns business parks in Europe and North America, with four million squaremetres of business space and over 1600 customers (as at 31 December 2005).Slough Estates' properties are in suburban locations in close proximity to themain business centres, where there is long term demand for businessaccommodation to serve these key economic regions. The company's mainactivities are currently based around London, Brussels, Paris, Dƒ¼sseldorf,Amsterdam, San Francisco and San Diego and the company continues to develop newbusiness parks with the long term objective of building shareholder value andenhancing its reputation for quality buildings offering excellent value tocustomers. www.sloughestates.comAntalisAntalis is the largest European group in the distribution of communicationssupport materials (Packaging, paper Print & Office, Visual Communication andPromotional Products). Ranking number 4 worldwide with a turnover of 2.3billion Euros, Antalis employs 6,500 people to serve the needs of over 180,000clients in 37 countries.ENDSLOUGH ESTATES PLCRelated Shares:
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