Sydney-listed Goodman Group has announced it is selling a 39,392-m[sup]2[/sup] logistics facility at Chanteloup-les-Vignes in the western Paris region to German discount supermarket chain Lidl. Goodman has signed an agreement to develop the new distribution centre which Lidl will acquire on a forward-funding basis for EUR 28 mln.

Sydney-listed Goodman Group has announced it is selling a 39,392-m2 logistics facility at Chanteloup-les-Vignes in the western Paris region to German discount supermarket chain Lidl. Goodman has signed an agreement to develop the new distribution centre which Lidl will acquire on a forward-funding basis for EUR 28 mln.

The development is expected to be completed by July 2011 and will complement Lidl's two existing logistics centres located near Paris.

Goodman said the pre-funded and pre-sold nature of the development is consistent with the firm's 'prudent development approach and focus on innovative and flexible sources of capital that significantly reduce the reliance on its own balance sheet'.