Acquisition of Two Highly Sustainable Logistics Assets in Prime Locations in Germany For €290.0m

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Key facts

Location: Lich, Hesse, Germany
Investment pillar: Growth Covenant
GIA: 94,800 sqm
Acquisition date: March 2021


Further information

  • This newly constructed logistics building is on target to reach practical completion on 1 May 2021, subject to a number of conditions, including practical completion of the building.
  • Located some 60km north of Frankfurt, close to the strategic A5/A45 motorway intersection, this high specification asset includes 16m eaves height, 223 loading doors, 192 HGV spaces and 415 car spaces.
  • It is leased for 15 years to the rapidly growing global online furniture group Wayfair. Wayfair Inc, the US parent company with a market capitalisation of over $35 billion, generated total net revenue over the full year 2020 of $14.1 billion, generating a gross profit of $4.1 billion.
  • The lease is annually indexed to 100% of German CPI, following a three-year indexation holiday at the commencement of the lease.
  • The property has been built to high sustainability standards, certified to DGNB Gold standard, and it benefits from a range of operational energy reduction measures.  The roof has the capacity to support the installation of solar PV panels.

For related information see Our Properties and Portfolio Summary