The Standard Life Investments European Real Estate Club LP (Euro Club) completed the sales on behalf of a private client.

'The deal with Savills Investment Management reflects the completion of the business plans for these assets and the attractiveness of core stabilised income-producing European real estate in the current macro environment,' commented Daniel McHugh, head of continental European real estate, Standard Life Investments. 'The transactions meet the original aim of Euro Club, which was to deliver value-add returns from core real estate with a defined element of risk. The disposals have taken place in advance of target timescales and ahead of target return.'

The assets include two French properties, totalling 88,000 m2, which are located in the French city of Brie-Comte-Robert, 30 km south east of Paris. Let to Point P and DSC, the warehouses were acquired by Euro Club in 2014 and are the first French assets from its portfolio to be sold.

Savills IM also acquired a 48,000 m2 logistics property in Korbach, Germany, which is let on a 15-year fixed-term to Continental Tyres. Euro Club acquired this property in 2015.

'We are delighted to have acquired two quality income-producing assets on long leases that fit our client’s strategic objectives. Despite strong investor demand, we believe the sector will continue to deliver good returns over the longer term and remain keen to invest further, both in Germany and France as well as other markets,' concluded Jon Crossfield, head of strategic partnerships at Savills IM.

Standard Life Investments was advised by LPA CGR, while Savills and De Pardieu acted for Savills IM.

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3 February 2017

European Logistics Investment Briefing

Savills, 33 Margaret Street, London, W1G 0JD, UK | 08:00 - 10:30

 

20 EXTRA PLACES ADDED TO MEET DEMAND.

Logistics has become the fastest-growing sector in real estate across Europe – will the positive trend continue in 2017?

In a turbulent year like 2016, Logistics consolidated its place as a sector virtually immune to geopolitical shocks, became the best-performing asset class and attracted significant investor interest and capital. What are the prospects for the year ahead? How is the growth in online sales transforming logistics in different countries? How are consumer demands for ever-faster delivery times being met? What are occupiers' new requirements? E-commerce has driven the growth of logistics, but what about traditional logistics, and business to business? Where in Europe are the best opportunities? Is scarcity of product becoming a problem? How will technological innovation, including robotics, big data, driverless vehicles and drones, change supply chains? As needs change rapidly, what will the warehouse of the future look like? Will we see more mixed-use, 'beds and sheds' buildings? Come to this time-efficient briefing, where leading industry experts will discuss the main issues facing the sector. Hear their answers to these questions or ask your own questions.

Attendance is complimentary but places are strictly limited. Please register now to reserve your place.