Tritax EuroBox PLC Completion of New Green Lease in Nivelles, Belgium (6061S)
17 Noviembre 2021 - 1:00AM
UK Regulatory
TIDMEBOX TIDMBOXE
RNS Number : 6061S
Tritax EuroBox PLC
17 November 2021
17 November 2021
Completion of a New Green Lease in Nivelles, Belgium to Match
Supermarkets
Tritax EuroBox plc ("Tritax EuroBox" or the "Company") (ticker:
EBOX (Sterling) and BOXE (Euro)), which invests in high-quality,
prime logistics real estate strategically located across
continental Europe, announces that it has agreed a new lease on the
vacant unit at its prime logistics asset in Nivelles to Associated
Retail SA (trading as "Match Supermarkets"), the convenience
supermarket group located across Belgium, Luxembourg and northern
France.
The Nivelles property, comprising two separate logistics units,
was acquired by the Company in January 2021, immediately after
completion of construction, with a gross internal area of 34,119
sqm, (with unit 1 comprising 18,147 sqm and unit 2 comprising
15,972 sqm) and an eaves height of 12 metres. The Company acquired
the asset with unit 1 already leased to Medi-Market Group S.A. on a
nine-year lease term without a break at a rent, subject to annual
indexation, of EUR803,000 per annum reflecting EUR44.3 psm.
At acquisition, unit 2 benefited from a 12-month rental
guarantee from the purchase date. The Company has now let unit 2 to
Associated Retail SA, part of the Louis Delhaize Group, with a
guarantee from Delfipar SA. The rent will be subject to annual
uplifts in line with the Belgian Healthcare Index.
The new lease has been agreed for a nine-year term from 16
November 2021 at an initial annual rent of EUR755,500 pa,
reflecting a headline rent of EUR47.3 psm. This rental level, on a
net effective basis is c. 8% above the level of the existing lease
for unit 1 and the current rental guarantee.
Sustainability is fundamental to the Company's ability to create
long-term value for stakeholders. The Nivelles property includes a
range of sustainability measures such as LED lighting with motion
sensors, insulated exterior walls to achieve good energy
performance, cycle storage and a cycle path, along with
installation of solar panels to provide tenants with a renewable
power source. The Company has negotiated a "Green Lease" with Match
Supermarkets to include specific clauses in the lease to ensure the
commitment of the tenant to use the building in a sustainable way,
sharing data on energy, water consumption, waste management and
recycling.
Securing this letting ahead of the expiry of the rental
guarantee further demonstrates the strength of the Company's
properties and locations. Following the completion of this new
lease, the property is now fully let.
Freddie James, Assistant Fund Manager of Tritax EuroBox,
commented:
"This letting provides further tenant diversification across our
portfolio and validates our strategy of buying high quality,
sustainable assets in prime logistics locations. These locations
experience strong occupier demand and allow us to capture the
rental growth evident in these markets and enhance shareholder
value. This also demonstrates the value of the Company's expertise
and local presence through its market-leading asset managers in
Belgium, Logistics Capital Partners. We look forward to a long and
productive relationship with Match Supermarkets in Nivelles."
For further information please contact:
Tritax Group
+44 (0) 20 8051 5070
Nick Preston
Mehdi Bourassi
Jo Blackshaw (Investor Relations)
Maitland/AMO (Media inquiries)
James Benjamin
+44 (0) 7747 113 930
tritax-maitland@maitland.co.uk
The Company's LEI is: 213800HK59N7H979QU33.
Notes:
Tritax EuroBox plc invests in and manages a well-diversified
portfolio of well-located Continental European logistics real
estate assets that are expected to deliver an attractive capital
return and secure income to shareholders. These assets fulfil key
roles in the logistics and distribution supply-chain focused on the
most established logistics markets and on the major population
centres across core Continental European countries.
Occupier demand for Continental European logistics assets is in
the midst of a major long-term structural change principally driven
by the growth of e-commerce. This is evidenced by technological
advancements, increased automation and supply-chain
optimisation.
The Company's Manager, Tritax Management LLP, has assembled a
full-service European logistics asset management capability
including specialist "on the ground" asset and property managers
with strong market standings in the Continental European logistics
sector.
Further information on Tritax EuroBox plc is available at
www.tritaxeurobox.co.uk
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