Leasinvest Real Estate extends lease contract in Antwerp and concludes new lease contract in Brussels for a total of 35,000 m² of logistics
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Real estate investment trust Leasinvest Real Estate (Euronext LEAS) concludes 2
lease contracts. In Kontich (Antwerp) Federal Mogul extends its lease contract
for approximately 23,700 m² and in Neder-over-Heembeek (Brussels) a new lease
for 7,200 m² (with possibility for extension to 10,000 m²) has been signed with
Cameleon/Famous Clothes.
The current lease contract which expires at the end of December 2011 in Kontich
with Federal Mogul, an American supplier of auto parts, has been extended
anticipatively for a fixed lease period till the end of December 2016. The
global logistics site of more than 23,700 m² and its accompanying offices are
used as a federal Mogul´s European distribution centre. This lease contract
represents 3.12% of the consolidated real estate portfolio.
The contract with Cameleon/Famous Clothes on the existing 1(st) phase of Canal
Logistics situated in Neder-over-Heembeek (Brussels) concerns a first lease
contract on this site for 7,200 m² storage space (with an option till 10,000
m²). The lease contract starts on 30 September 2011 and has been concluded based
on a 6-9 years lease term. Cameleon is a major player in the private sale of
clothes, accessories and decoration items in the Benelux, and will use this
building as a logistics platform for their e-commerce operations for the supply
of Brussels and the rest of the country.
The global 1(st) phase of Canal Logistics (www.canallogistics.be), acquired in
March 2010, of which the rental guarantee from the buyer expired at the
beginning of April 2011, represents 2.94% of the consolidated real estate
portfolio. The expiry of this rental guarantee has a downward impact on the
occupancy rate, which will however evolve positively again after this first
rental. Through this first lease contract with Cameleon/Famous Clothes 26% of
the logistics part of this 1(st) phase (27,682 m²) will be let as from 30
September 2011, or 36% in case of the use of the extension possibility.
This first letting on Canal Logistics shortly after the expiry of the rental
guarantee proves the attractiveness of this logistics site and we assume that
this will incite other potential future users.
Canal Logistics is a new state-of-the-art logistics centre, centrally located
alongside the Brussels´ Canal and only 10 minutes away from the city centre of
Brussels and Zaventem airport. Phase 1 of this project, comprising a total of
27,700 m² of storage space and 1,250 m² of offices, was acquired by Leasinvest
Real Estate in March 2010. Phase 1 of this site is part of a global project of
50,000 m² of storage and 2,500 m² of offices.
For more information, contact:
Leasinvest Real Estate
Jean-Louis Appelmans
Investor Relations
T: +32 3 238 98 77
E:jeanlouis.appelmans@leasinvest.be
W www.leasinvest.be
Leasinvest Real Estate Comm. VA
Real estate investment trust (sicafi) Leasinvest Real Estate SCA mainly invests
in high quality and well-located offices, logistics and retail buildings in
Belgium and the Grand Duchy of Luxembourg.
The sicafi is listed on Euronext Brussels and has a market capitalization of
approximately 277 million euro (value on 12 July 2011).
LRE_lettings_Antwerp_Brussels:
http://hugin.info/134797/R/1530853/465818.pdf
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Source: Leasinvest Real Estate Comm. VA via Thomson Reuters ONE
[HUG#1530853]
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