Past performance is not a guide to future returns. An illustrative example. The presented asset is closed to new investors.
Overview
A brownfield speculative development, the previous building was demolished and replaced by a newly built, modern cross-docking facility delivering last mile logistics to city centre Lyon. The business plan included successfully pre-leasing the building during construction to the French Post Office all while benefitting from a strong leasing market and consistent rental growth.
Background
- The opportunity was sourced off-market via a developer with whom we entertain a long-term relationship.
- The property is located in the closest logistics market to the city of Lyon, which is primarily used for last mile delivery.
- Leasing led to the signature of a 9.5 years closed lease with the French Post Office (La Poste) within only 2 months following the beginning of construction.
- As La Poste had been identified early in the design process, we were able to tailor the project to their operation while maintaining a flexible cross-docking layout.
- Works were delivered in July 2021 following a 14-month construction period.
Key metrics
Location
9 avenue du 24 août 1944, Corbas (Lyon), France
Investment strategy
Speculative development
Sector
Logistics
Gross leasable area
12,862 sqm
Acquisition date
May-20
Insights
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