French-listed SIIC Zublin Immobiliere France has acquired an office complex in Lyon for EUR 53 mln. The property provides some 15,500 m[sup]2[/sup] of space with 420 parking places and has an initial net rental yield of 6%.
French-listed SIIC Zublin Immobiliere France has acquired an office complex in Lyon for EUR 53 mln. The property provides some 15,500 m2 of space with 420 parking places and has an initial net rental yield of 6%.
The complex, called Le Danica, consists of three buildings and is entirely rented to 20 tenants, with annualised rental revenue of EUR 3.2 mln in 2008.
The transaction brings the value of Züblin Immobilière France’s property assets to EUR 385 mln, with annualised rents of EUR 25.4 mln, and gives the company’s portfolio a net rental yield of 6.6%.
Zublin Immobilière France is part of the Züblin Immobilien Holding. The group’s portfolio comprises 85 properties in five countries, with a market value of CHF 2.1 bn.
