(Visited 319 times, 1 visits today)
(Visited 319 times, 1 visits today)
  • Transaction / Assets
    distribution hub in Rieti
  • Seller
    Sabina Industrial park
  • Buyer
    NA
  • € MM
    NA

After Amazon, the French group Leroy Merlin lands on the Italian logistics market

08 August, Il Messaggero

177 thousand Sq m in the logistics hub of Passo Corese have been bought, and it looks like all the available lots of the facility will sell out soon. On 3rd August, the Sabina industrial park, the operative unit of the Rieti industrial committee, entered an agreement with a French logistics fund which has already implemented the Amazon distribution hub in Vercelli.

The agreement implies the purchase in two tranches of developable areas. The Rieti industrial committee will officialise the deal shortly. The French company, just as Vailog that implemented the Amazon warehouses in Passo Corese, is active in the construction of logistics hubs throughout Europe. Once acquired the areas, the fund will implement the first warehouses which will then lease to the end user, who hasn’t been disclosed yet. The rumours speaking about the arrival of Leroy Merlin, the DIY leader, have been denied. The company, in fact, initially got in contact with Vailog but no agreement was achieved at the end. The future tenant may be, however, a company of the Leroy Merlin group.

The president of the industrial estate, Giuliano Montagnini, explains: “After six months of environmental appraisals that inevitably protracted the time to close the deal, last week the French company subscribed the contract which is now fully effective. We expect to register the notary deed by the end of this year concerning the purchase of the first 100 thousand Sq m. In the next 12 months, in 2019, the other 77 thousand Sq m will be purchased (already developed) as agreed. The French fund will lease the warehouses to clients we don’t know yet”.

The Sabina industrial estate will have to develop the 100 thousand Sq m surface. “The construction works will start in September”, assured Montagnini. The sale will be finalised upon the completion of the works. The president of the industrial committee, Andrea Ferroni, commented: “We’ll officialise the contract with the industrial park by the end of August”. Besides these sales, there are other negotiations currently going on. In this regard, Montagnini added: “There are several companies interested in the lots. They’re companies operating in the food industry. We’re working with them at the moment, but it’s still too early to make any conclusion.”