22nd Mar 2006 07:15
Slough Estates PLC22 March 2006 SLOUGH ESTATES EXTENDS EUROPEAN FOOTPRINT: SIGNS OVER 100,000 sq m OF NEW LEASES ACROSS EUROPE SINCE THE BEGINNING OF 2006 Slough Estates International ("SEI") has signed 101,619 sq m of new leases across its European network since the beginning of 2006, in line with its strategy to extend its presence in Europe. Central Europe - Poland In a very encouraging start for SEI in Central Europe, the company has agreed to develop a new 43,000 sq m warehouse and production facility in Central Europefor a substantial American manufacturer, which cannot be named due to clientconfidentiality. Delivery is expected in September 2006. This is SEI's largestever pre-let in Europe and one of the biggest in the Polish market and is a firm indication of SEI's intent in the region. Belgium SEI and joint venture partner KBC Vastgoed, have signed a lease on the RumstLogistics Park, situated off the E19 motorway which connects Antwerp withBrussels, with Cummins Fleetguard, the filtration subsidiary of Cummins Inc("Cummins"), the global engineering firm. Cummins-Fleetguard has entered into a 12-year lease with a break at year 9 onthe existing 9,745 sq m unit and a guaranteed 4,952 sq m extension for delivery in 2008. The warehouse facility at Rumst will be used for the storage anddistribution of heavy duty diesel engine filters. This letting is the first onthe Rumst Logistics Park, significantly raising the profile of the developmentas a prime logistics location. France SEI has signed a new 6 year firm lease with Procter and Gamble on 8,850 sq m atits property at Bondoufle, to the south of Paris. SEI has accepted an earlysurrender of the lease from the current tenant and will undertake somerefurbishment works for Procter and Gamble. At the Marly Logistics Park, which provides 110,000 sq m of warehousing to thenorth of Paris, SEI has signed a new 3/6/9 year lease with Logista on a 24,500 sq m warehouse. Germany SEI has also signed 10,572 sq m of new leases across its German portfolio sincethe beginning of the year. The majority of this take up has been through threelettings: • Dachser, a leading European logistics provider, has taken a new lease on 5,756 sq m at Monchengladbach Krefelder Strasse, near Dusseldorf, at an annual rent of €221,028 per annum. The transaction has facilitated the refurbishment and extension of the rest of the property. • Moletherm has taken a new lease on 1,688 sq m at Neuss, near Dusseldorf, at an annual rent of €150,912 per annum. • Apex Brazil, has taken a lease on 1,216 sq m at Frankfurt Silostrasse at a rent of €101,000 per annum. Walter Hens, Managing Director SEI Europe said: "We continue to make significant progress, in line with our stated strategy ofincreasing our European footprint. These deals announced today demonstrate thebusiness has delivered an excellent start to the year and reflects strongerdemand for our logistic, suburban office and light industrial products instrategic locations." Maitland Tel: 020 73795151Colin Browne/Liz Morley/Peter Ogden Notes to editors Slough Estates plc(Listed on the London Stock Exchange - stock code: SLOU.L) Slough Estates is a leading provider of flexible business space in businessparks in Western Europe and North America, with over 1500 customers occupyingapproximately 3m square metres of business space (as at Interim results, August2005). Slough Estates' properties are in suburban locations in close proximityto the main business centres, where there is long term demand for businessaccommodation to serve these key economic regions. The company's main activities are currently based around London, Brussels,Paris, Dusseldorf, Amsterdam, San Francisco and San Diego and the companycontinues to develop new business parks with the long term objective of building shareholder value and enhancing its reputation for quality buildings offering excellent value to customers. Elsewhere in Continental Europe, Slough Estates International's main interests are in Belgium, Germany, France, The Netherlands, the Czech Republic, Hungary and Poland. www.sloughestates.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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