Savills Investment Management has acquired a logistics building near Angers, France, as part of a sale and leaseback transaction.
The approximately 70,000 sqm of lettable space is fully let to the non-food discounter Action on a long-term basis.
The Angers logistics building, completed at the end of 2020, is in Verrières-en-Anjou near Angers. It has direct access to three motorways, enabling efficient deliveries to all the conurbations in western France (Nantes, Rennes, Tours, Le Mans and Poitiers) as well as the greater Paris area.
The modern building has energy-efficient equipment including LED lighting, light sensors, charging stations for electric vehicles and solar panels on the roof. BREEAM “Very Good” certification is being sought.
The purchase was made on behalf of a German pension fund. The portfolio, built up since 2015, has now grown to 11 properties in Germany, France, Italy, Luxembourg and the Netherlands, including one property under construction.
Patrick Griesbeck, Senior Investment Manager at Savills IM, says, “With the logistics property near Angers, we were able to secure another attractive addition to the portfolio in a challenging market environment. Aside from the central location in a dynamic region with a growing population, excellent connectivity and the long-term lease to a creditworthy tenant, the property also meets high ESG and energy efficiency requirements.”
Laurent Vouin, Head of France / Belux at Savills IM, adds, “We are pleased to add another distribution centre, with an extension capacity, ideally located with access to all the western conurbations, to our existing relationship with Action in France. Despite shifting market conditions, this acquisition demonstrates our continued interest in core logistics assets with strong ESG credentials.”
