Aberdeen Standard European Logistics buys in France- Aberdeen Standard European Logistics Income PLC (ASLI) acquires a high quality logistics warehouse in Meung-sur-Loire, France. The total value of the acquisition is €23.5 million which will provide Aberdeen Standard a net initial yield of 4.7%. Contracts will become unconditional by no later than 22 January 2019.
The property is fully lent to Office Depot France until 2026. Office Depot France (part of the Aurelius Group) who is large leader in the office supply market. Due to recent consolidations all of their French business is now based in Meung-sur-Loire.
The warehouse is located 27km south of Orleans at Parc Synergie, which is an area that serves Paris, Central France, and the South of France. It has great access to roadways and rail networks. It also located near the ‘Dorsale’ corridor which allows for good international access as well as national. The building is 30,180 square metres with flexibility on the number of tenants in the building.
The manager believes that building will have a good stream of income due to the long lease and location of the property. Also, the ability to expand the property if Aberdeen deems it to be necessary.
ASLI- Aberdeen Standard European Logistics buys in France