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Trading Update ahead of the publication of the Company’s results for the period from 1 July 2018 to 31 December 2018

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exterior-view-of-loading-bays-at-night-at-new-big-box-logistics-facility-near-rome

Key facts

Location: Passo Corese, Rome, Italy
Investment pillar: Foundation
Acquisition price: €118.0 million
Net initial yield: 5.0%
GIA: 158,000 sqm
Eaves height: maximum 14 metres
Lease expiry: August 2032
Acquisition date: October 2018

aerial-view-of-new-big-box-near-rome

Further information

  • This new purpose-built, regional fulfilment centre, a key part of the tenant’s pan-European network, is strategically located in a prime logistics location 35km north east of Rome with good access to the A1 (E45), the principal north-south axis motorway in Italy.
  • The site benefits from good rail and airport connectivity and forms part of a new industrial/logistics park.
  • This high specification logistics facility, purpose-built in August 2017, has a gross internal area of c.158,000sqm, is built over three levels with a maximum eaves height of 14 metres and a site cover of 35%. The building has benefited from significant capital investment from the tenant.
  • The property, which is the occupier’s only regional fulfilment centre in southern Italy, is let on a 15-year full repairing and insuring lease that commenced on 7 August 2017, reflecting an unexpired lease term of just under 14 years. At the end of the 15 year lease there are two six-year extension options in favour of the tenant. The majority of the rent is subject to annual indexation.

For related information see Our Properties and Portfolio Summary