UK industrial property group Segro said on Thursday that it has sold the Reflets Defense complex to French firm Silic for a total of EUR 23 mln. The property, located in Nanterre, provides 6,000 m[sup]2[/sup] of office space leased to the general council of Hauts-de- Seine with a 6-9 year lease running through 2015. The price, net of expenses, is in line with the appraised value of the property at 31 December.
UK industrial property group Segro said on Thursday that it has sold the Reflets Defense complex to French firm Silic for a total of EUR 23 mln. The property, located in Nanterre, provides 6,000 m2 of office space leased to the general council of Hauts-de- Seine with a 6-9 year lease running through 2015. The price, net of expenses, is in line with the appraised value of the property at 31 December.
'The sale of this product will allow us to invest in new opportunities in the medium term in the development of business parks in the Ile-de-France region as well as to diversify our portfolio,' said Laurent Horbette, Segro's head of France. Segro was advised by law firms Maître Vincent Gérard, notary Normand, de Beauregard, Bresnajac & Gérard and Cushman & Wakefield.
In a separate statement, the company said it has leased around 11,000 m2 of space to Ireland's Novostrat within its Aeropark business park in Lyon. Following the deal, the park is 100% leased, it added. Segro, which was advised by DTZ, said the companies have agreed on a nine-year lease term for a total annual income of EUR 450,000.
Segro is active across 10 countries in Continental Europe, with a portfolio worth some EUR 2.5 bn.
