Regulatory Filings • May 13, 2014
Regulatory Filings
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REGULATED INFORMATION UNDER EMBARGO UNTIL 13/05/2014 – 7.00 AM
START OF TWO NEW BUILD-TO-SUIT PROJECTS IN PARTNERSHIP WITH MG REAL ESTATE
THESE TWO TRANSACTIONS, WITH AN AVERAGE FIXED TERM OF 7 YEARS, TOGETHER REPRESENT A TOTAL INVESTMENT VALUE OF EUR 23 MILLION AND, BASED ON AN INITIAL GROSS YIELD OF 7.9%, WILL GENERATE AN ADDITIONAL EUR 1.8 MILLION IN ANNUAL RENTAL INCOME ON HANDOVER
In December 2013, Montea signed a partnership agreement with MG Real Estate (De Paepe Group) for the development of the "MG Park De Hulst" sustainable logistics park in Willebroek, where it will develop a total of 150,000 m² of logistics space. The first build-to-suit development is already underway and will be leased to Dachser (see press release dated 7/02/2014). Since then, Montea has signed a further agreement with MG Real Estate for the development of a second project (for Neovia Logistics Services Belgium) and a third project (for an American multinational), with an investment value totalling EUR 23 million.
Montea «Space for Growth» - site MG Park De Hulst – Willebroek (BE)
Montea and MG Real Estate have announced their second joint development, with the project for Neovia Logistics Services Belgium. The overall development encompasses a logistics platform that includes 19,000 m² of warehousing, 500 m² of office space and 82 truck spaces. The building, which will be equipped with a sprinkler system and have 30 loading docks, will become operational during the third quarter of 2014.
Montea will acquire this property on completion, subject the usual suspensive conditions. The parties have signed a long-term lease agreement with Neovia Logistics Services Belgium for a period of 10 years. Neovia is a global, integrated logistics service provider (www.neovialogistics.com).
This transaction represents a total investment value of EUR 13.3 million and will generate an additional rental income of EUR 1.1 million per year, based on an initial gross yield of approximately 8%.
This development, on land extending to approximately 20,100 m², includes a build-to-suit logistics platform with 13,000 m² of warehousing, 1,000 m² of office space and 75 parking spaces. The building will be equipped with a sprinkler installation and 12 loading docks. It will become operational during the course of the third quarter of 2014.
The parties have agreed a long-term lease agreement for a period of 15 years.
Montea will acquire this property on completion, subject the usual suspensive conditions. This transaction represents a total investment value of EUR 9.6 million and will generate an additional rental income of EUR 0.7 million, based on an initial gross yield of 7.5%. The transaction was brokered by Cushman & Wakefield.
Peter Demuynck, CCO Montea: "These successful projects demonstrate, on the one hand, that as a multimodal logistics hub between the E19 and A12, De Hulst is extremely unique. The partnership between MG Real Estate and Montea also provides fast, effective solutions for the needs of international companies."
Montea Comm. VA is a public property trust (Sicafi – SIIC) specialising in logistical and semi-industrial property in the Benelux and France, where the company is a benchmark player. Montea literally offers its customers room to grow by providing versatile, innovative property solutions. In this way, Montea creates value for its shareholders. As of 31/12/2013, Montea's portfolio of property represented total space of 584,694 m² across 35 locations. Montea Comm. VA has been listed on NYSE Euronext Brussels (MONT) and Paris (MONTP) since 2006.
MEDIA CONTACT
Jo De Wolf +32 53 82 62 62 [email protected]
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