7th Jul 2006 11:19
For immediate release July 7, 2006 SLOUGH ESTATES DELIVERS ANOTHER MILLION SQ FT IN EUROPE DOUBLING SPACE ACHIEVED IN 2006 Slough Estates International ("SEI") has today announced that in the secondquarter of the year it has agreed lettings and a pre-sale totalling over100,000m‚² (a million sq ft) across its Continental European network. With100,000m‚² already let in the first quarter, the total area leased year-to-dateis now over 200,000m‚². The yield on all of the development projects below is inline with or greater than SEI's targets in these regions.Central Europe - PolandIn the second quarter of the year SEI has agreed to develop a new warehouse inStrykow. 9,500m‚² for Azymut (Polish distributor of schoolbooks) to be deliveredin January 2007. The lease is for a minimum of 10 years.SEI has also signed a 10 year lease with a break at year 5 for 6,500m‚² with aUK healthcare company on the new logistics site in Poznan, situated off themotorway which connects Berlin with Warsaw.BelgiumSEI and joint venture (50:50) partner KBC Vastgoed, have signed an importantlease on the Rumst Logistics Park, situated off the E19 motorway which connectsAntwerp with Brussels, with Exel, the logistics firm. This is the secondsignificant signing achieved by SEI and KBC Vastgoed this year.Exel has entered into a 10-year lease with a break at year 5 on a 42,433m‚²built-to-suit logistics building for delivery early 2007. The warehousefacility at Rumst will be used for the storage and distribution of products fora Japanese client.SEI has signed 2,829m‚² of new leases at Pegasus Park with Trifinance (anextension), Cognos (also an extension) and with Alten Axen (consultants inengineering and advanced technologies), a new tenant in the Park.SEI has also agreed terms with a European hotel developer for a projectmanagement fee contract for the construction of a 12,000m‚² scheme comprising a180 rooms 4 star hotel and 3,000 m‚² of serviced offices on the Sirius siteopposite Pegasus Park, close to Brussels airport. The plot will be sold laterthis year and the project management fee will be in excess of ¢â€š¬ 2.5MFranceSEI has signed a new 6/9 year firm lease with Codico (distributor) on 3,788m‚²at its light industrial scheme at Le Blanc Mesnil to the south of Paris.SEI and joint venture partner Capital & Continental (with 66.6% and 33.3%respectively) have entered into a 9 year lease with a break at year 6 on theexisting 5,803m‚² office scheme at Nanterre with the Conseil Gƒ©nƒ©ral des Hautsde Seine. The annual rent is ¢â€š¬ 1.5M.GermanySEI has also signed over 23,000m‚² of new leases across its German portfolio inthe second quarter of the year. The majority of this take up has been throughthe following lettings:- In Darmstadt, Bauder (storage of household goods) has taken a new lease on4,336m‚² for 10 years with a break at years 5 and 7, and TRW Automotive hassigned for 12,537m‚² in Saarbrucken - both deals relate to parts of theportfolio acquired from KarstadtQuelle- Asics has leased for 10 years, with a break at year 5, an additional 2,876m‚²at Neuss, near Dusseldorf, at an annual rent of just over ¢â€š¬100,000.- Terms have been agreed with Hess Natur Textilien (distributors of ecologicaltextiles) for a 1,260m‚² built-to-suit extension to a former Karstadt propertyin Butzbach, north of Frankfurt. Hess Natur Textilien has signed a lease for 14years.Walter Hens, SEI Managing Director Continental Europe said:"The second quarter was another very busy and successful period for us as wecontinued to expand in strategic business locations with real potential forgrowth - focusing on logistics, light industrial and suburban office, andleveraging and developing our customer relationships across Europe. The200,000m‚² of transactions announced to date in 2006 will result in ¢â€š¬10m newannual rent and over ¢â€š¬2.5m of project management fees. We currently have100,000m‚² under construction but we expect that this figure will rise to220,000m‚² later this year. Just under 60% of this is already pre-let". -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 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. Slough Estates' propertiesare in suburban locations in close proximity to the main business centres,where there is long term demand for business accommodation to serve these keyeconomic regions. The company's main activities are currently based aroundLondon, Brussels, Paris, Dƒ¼sseldorf, Amsterdam, San Francisco and San Diego andthe company continues to develop new business parks with the long termobjective of building shareholder value and enhancing its reputation forquality buildings offering excellent value to customers. www.sloughestates.comENDSLOUGH ESTATES PLCRelated Shares:
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