Henderson Global Investors' property business has agreed to provide equity funding for a 18,206 m[sup]2[/sup] retail unit being developed in the French town of Creil. Financial details were not disclosed.
Henderson Global Investors' property business has agreed to provide equity funding for a 18,206 m2 retail unit being developed in the French town of Creil. Financial details were not disclosed.
Henderson is acting on behalf of Warburg Henderson's RZVK-Immo-Fonds,
The unit forms part of an established retail warehouse park development in Saint-Maximin, Creil, which is located close to the Paris region, some 60 km to the north of Paris. The retail area - ZAE Les Haies in Creil Saint-Maximin - was created in 1969, and includes more than 160 large area stores of which more than 70% are let to national retailers.
The project is fully pre-let to Castorama on a 12-year contract and its development will be undertaken by JMP Expansion. Henderson said the operation 'marks the first milestone of further developments that the firm expects to undertake'.
