Segro Acquires 2 Logistics Plots in Madrid & Barcelona

16 January 2018 – Press release

Segro, the British investment fund specialising in the logistics sector, is increasing its presence in Spain with two new acquisitions in Getafe (Madrid) and Sant Esteve de Sesrovires (Barcelona). Both assets were acquired in December 2017.

On the one hand, Segro has announced the acquisition of a plot of land measuring 8 hectares in Getafe for the construction of a logistics warehouse measuring 46,000m2. That land is strategically located in the Puerta Mayor-Los Gavilanes Business and Logistics Park, a relatively new location 14km to the south of Madrid, alongside the A4 Madrid-Andalucía highway and with direct access to the M-50.

That logistically strategic area is home to several large multinational companies, such as Decathlon, CostCo and Amazon, but suffers from a relative shortage of buildings measuring more than 40,000 m2 in the market in Madrid, despite the high demand for large units this year. Work to build the logistics warehouse will begin during the first half of the year in response to this market need.

On the other hand, Segro has acquired a new asset in Sant Esteve Sesrovires. That plot comprises 8 hectares and is located 35km away from Barcelona’s city centre. Sant Esteve Sesrovires is located between the A2 and A7 highways, which run from Barcelona to Madrid and represents a strategic communication hub. Barcelona is an area with a shortage of modern, high-quality warehouses, and for this reason, Segro will proceed to construct a 51,000 m2 property (…).

Whilst the construction and financing of the project will be completed over 2 phases during 2018/2019, work on the first phase spanning 29,000 m2 will start at the beginning of Q1 2018. This project coincides with the construction of a 20,000 m2 warehouse that the firm is working on in Martorelles, which will be completed in the summer and available for rent thereafter (…).

With these two new acquisitions, Segro, in its commitment to expand its presence in Spain, is positioning itself as one of the important investors in the Spanish logistics market with a portfolio spanning 255,000 m2. Segro is continuing to focus on high-quality buildings and prioritise strategic locations to create a privileged portfolio of warehouses for distribution and urban logistics, creating high added-value spaces for large companies and SMEs alike.

About Segro

Segro is a British Listed Real Estate Investment Company (Socimi) and European market leader in the management, promotion and construction of logistics and industrial assets. Segro owns and manages a portfolio of properties spanning 6.3 million m2, with a market value of GBP 8 billion, providing services to various clients in the logistics and industrial sector. Its parks are located in the main distribution and transport hubs of the countries in which it has a presence. It owns some of the best logistics parks and transport centres in Europe.

Segro enjoyed a record year in 2016 and according to its provisional results for 2017, the company recorded a 3.9% increase in its net rental income. Moreover, it signed rental contracts worth GBP 27.5 million (around €30.8 million), up by 28% compared to the same period in 2016 (…).

Original story: Press release

Translation: Carmel Drake

Realia Sells ‘Los Cubos’ Office Building To Therus For €52M

23 October 2017 – Expansión

The real estate company Realia, owned by Inmobiliaria Carso and FCC, which are both controlled by the Mexican businessman Carlos Slim, has sold the office building known as Los Cubos, located in Madrid, for €52 million.

The buyer is the French real estate company Therus, which is co-investing with the British investment group Henderson Park, according to several sources.

The property, which owes its name to its unique architecture, has a leasable area of 18,324 m2 and 334 parking spaces.

The real estate company put this building, located in the vicinity of the M-30 ring road, up for sale at the end of last year, as reported by Expansión at the time. The building has been vacant since the end of 2015. Before its sale, the company considered renovating it on several occasions to improve its appeal in the market.

In the end, Realia has sold the building for €52 million, compared to the initial asking price of €57 million. The sale of Los Cubos is the latest in a long line of high profile real estate investment operations closed in Spain in recent months. The investment volume in the real estate sector during the 9 months to September amounted to €10,300 million.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake

Rockspring’s New Logistics Platform In Getafe Ready By YE

1 August 2016 – Mis Naves

Construction of the logistics platform that Inbisa is building for the UK fund Rockspring in Getafe is progressing nicely, and all indications are that it will be completed by the end of 2016 or beginning of 2017, just nine months after the first stone was laid at the site.

In fact, as at July 2016, just four months after construction began, almost 50% of the structure has been built, and the workmen have now started to construct the platform’s walls and roof.

Located in the Puerta Mayor “Los Gavilanes” business and logistics park in Madrid, the new platform will cover an area equivalent to eight football pitches, with a total constructed surface area of 58,000 sqm, on a plot measuring 88,000 sqm. The platform may be split into eight modules measuring more than 7,000 sqm each.

Both Rockspring and ProEquity, the real estate consultancy responsible for the exclusive marketing of this project, are excited about the new platform, which is particularly suitable for major retailers and e-commerce specialists that need to base their logistics operations close to Spain’s capital city.

In this sense, the logistics park in Getafe is located at the junction of the A-4 Madrid-Andalucía motorway and the M-50 ring-road, 27 km from Barajas airport and 20km from the centre of Madrid.

The platform will be equipped with the highest quality standards, a certificate of sustainable construction and complete facilities with a dock ratio of 1/860m2, which means 64 docks, concrete structure and walls, wide handling bays measuring more than 35m, an interior height of 12m and LED lighting, amongst other state-of-the-art features.

Original story: Mis Naves

Translation: Carmel Drake