Guernsey-based property investment company Raven Russia has said it has agreed to develop a 109,000 m[sup]2[/sup] logistics and distribution complex south of Moscow in a 50-50 joint venture with Russian construction group Stroitelnaya Kompaniya Felix (SKF). The scheme is to be built on a 17.9 hectare site 21km south of Moscow’s orbital motorway.
Guernsey-based property investment company Raven Russia has said it has agreed to develop a 109,000 m2 logistics and distribution complex south of Moscow in a 50-50 joint venture with Russian construction group Stroitelnaya Kompaniya Felix (SKF). The scheme is to be built on a 17.9 hectare site 21km south of Moscow’s orbital motorway.
Raven expects the end value of the project to be close to EUR 82 mln and anticipates a net initial yield of over 12% from the project. It plans to buy out SKF’s share upon completion of the project, which is scheduled for mid-2009. The deal is the latest of a number of Russian logistics developments announced by Raven, which says its development pipeline will be worth over EUR 1.2 bn upon completion.
