London-listed CLS has announced that its subsidiary, Citadel Holdings, has acquired Colt Telecom’s data centre and French HQ in the southern suburb of Malakoff, Paris. The investment volume comes to EUR 14.33 mln.
London-listed CLS has announced that its subsidiary, Citadel Holdings, has acquired Colt Telecom’s data centre and French HQ in the southern suburb of Malakoff, Paris. The investment volume comes to EUR 14.33 mln.
The 10,800-m2 office and industrial property produces EUR 1.1 mln per annum. This equates to EUR 104 per m2 and represents an initial yield of 7.38% to CLS. With the debt finance arranged by Crédit Foncier de France, the initial return on equity is 15.26% per annum.
The property is let on an indexed lease until September 2018 with no breaks. Colt Telecom Group is a FTSE 250 company specialising in fibre optic networks. This building is one of their major European data centres. Colt Telecom renewed their lease in 2009 and has invested very significantly in the property for their data rooms and network hub wiring.
The building is close to the Quator office property already owned by CLS in Montrouge.
