Report Publication Announcement • Oct 15, 2009
Report Publication Announcement
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Aalst, 15 October 2009 – MONTEA (NYSE Euronext/MONT/MONTP) has announced today the signing of a new rental agreement1 for nine years (six years of which are fixed) for 8,169 m² of storage space and 632 m² of office space at the Savigny-Le-Temple site in Southern Paris. This important rental transaction means that 60% of the logistics platform in Savigny is rented.
Montea actively works on continuously improving its storage spaces and distribution infrastructure. Together with the renters, Montea looks for a personalised and efficient real estate solution. In this scope, Montea proposed a flexible real estate solution to toy distributor Challenger International by offering the possibility of terminating the existing rental agreement free of charge and moving to a bigger building of the Montea portfolio.
Until today, Challenger International rented a building from Montea of 3,800 m² in the Paris Nord 2 activity park, near the Roissy Charles de Gaulle airport. Due to the expansion of its activities, the toy distributor was looking for a bigger storage space in order to centralise its logistics services and to better meet growing demand from its clients.
Montea is currently finalising the renting of the building in Paris Nord 2 that used to be occupied by Challenger International.
Besides Belgium, Montea is active on the French market, with a specific focus on the Lille-Paris-Lyon axis.
The site in Savigny is entirely secure and still has a vacant lot that can be built or used as an additional storage space of 4,000 m² for outdoor storage.
Moreover, Montea is currently looking into having the building connected to the existing railway network at the rear of the building.
At the Savigny site, Montea uses, in collaboration with BNP Real Estate, Entrepôts-On-Line and Keops, 8,000 m² of available storage space, which meets the standards of the French 1510 norm regulating the storage of goods, products and flammable substances in covered storage spaces.
1 The start date of the rental agremeent is 01/10/2009 with a gross starting yield of 9,9%.
For 15 years the Challenger International Group has developed baby and children's toys, including brands such as Babysun, Tiny Love and Boikido. "Montea has actively worked on finding a solution for our storage problem. It was a major asset for us to find a ready-to-use solution for our growth within the portfolio of our current partner," explains Mr Frank Cohen-Aloro, CEO of Challenger International about the collaboration with Montea.
The rental transaction with Challenger International in Savigny-Le-Temple was managed by real estate agency Keops.
Montea Comm. VA is a property investment company (Sicafi – SIIC), specialised in logistics and semi-industrial buildings in Belgium and France. The company wants to become a reference player in this rapidly growing market. Montea offers more than just storage sites and wants to give leasing clients flexible and innovative property solutions, thus creating value for its shareholders. As from 31/03/2009 the company's property totalled 365,899 m² distributed over 32 locations. Montea Comm. VA has been listed on NYSE Euronext Brussels (MONT) and Paris (MONTP) since end of 2006.
Frédéric Sohet Joris Bulteel
Montea Whyte Corporate Affairs +32 53 82 62 62 +32 2 738 06 21 [email protected]
www.montea.com
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