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URW to sell Almere Centrum for €155m (NL)

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Unibail-Rodamco-Westfield (URW) has entered an agreement with a group of private investors led by the UMB Group for the sale of Almere Centrum in The Netherlands. The net disposal price of €155m is in line with the last appraisal value.

 

Almere Centrum comprises an 87,000m² and offers a range of international brands H&MPrimark, Pull&BearSuperdryG-Star RawRitualsZara, and Pandora.

 

The transaction is expected to complete before the end of July, subject to standard closing conditions. Upon closing, URW will have completed €2.7bn of its planned €4bn European disposal program.

 

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Abrdn acquires Waddinxveen warehouse scheme (NL)

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abrdn European Logistics Income has signed the purchase agreement for the acquisition of the recently completed warehouse extension at Waddinxveen, the Netherlands, for a total net purchase price of €4.9m. The company exercised its right of refusal over this development located directly adjacent to the existing warehouse bought in 2018. This land, owned by and developed with our tenant Combilo, has provided an additional circa 2,400m² of cooled warehouse space and 157m² of office space. The extension will allow Combilo to service its growing client base, including a Swedish supermarket chain. The lease runs concurrent with the original, with over 11 years remaining, and will generate additional rent of €250,000 per annum, reflecting a yield of 5%. The extension complies with the latest energy neutrality standards in the Netherlands and includes 16 rooftop solar panels, resulting in an A+++ energy rating.

 

In addition, the company has agreed a new 5 year lease with ADER at Unit 3, part of Phase II at its Gavilanes site, Madrid. ADER provides distribution services to companies in the freight and logistics sector and is consolidating its operations in the Gavilanes area with the leasing of this second, 7,375m² building. The annual contracted rent of almost €470,000 per annum is fully CPI indexed and in line with expectations.

 

Evert Castelein, Fund Manager for ASLI, commented: “Supporting our tenants as they expand is a key part of our strategy. This is another example of how flexibility and the option to extend buildings within our portfolio can create additional value over the medium term. The new lease with ADER not only improves the portfolio’s income characteristics, but also underscores the desirability of the Gavilanes assets, which offer access to c. six million people across the wider Madrid area.”

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Garden offices and orangeries are increasing in popularity among homebuyers says Rightmove

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Garden offices, bi-fold doors and orangeries are among popular features that homebuyers are searching for, new research has revealed.

Rightmove looked at the home features that have grown the most in popularity, based on the number of agents advertising them as a key selling point on its website.

It found that garden offices top the list, with the proportion of property listings that mention them now 11 times higher than a decade ago, up 1046 per cent.

The proportion of property listings that mention garden offices is up 1046 per cent in the past 10 years, according to Rightmove

The proportion of property listings that mention garden offices is up 1046 per cent in the past 10 years, according to Rightmove

Rightmove looked at the home features that have grown the most in popularity

Rightmove looked at the home features that have grown the most in popularity

Bi-fold doors are second on the list, up 589 per cent compared to ten years ago, followed by orangeries, which are up 173 per cent during the same period.

Also in the list is summer houses, which have increased in popularity by 90 per cent, while greenhouses appear to be on the way out, down by 46 per cent.

Meanwhile, Rightmove said concerns about the environment are rising in priority, with the number of new property listings now mentioning an electric car charging point having increased six times, up 495 per cent, compared with a year ago.

The findings suggested that homeowners could be ditching separate dining rooms for more modern open plan options, with mentions of dining rooms in property adverts down by 28 per cent, and mentions of open-plan rooms up 74 per cent.

Rightmove suggested that the decline of the popularity of dining rooms may also be down to more people converting this room into a home office.

Other features dropping in popularity in the agent listings include conservatories, down 52 per cent, greenhouses, down 46 per cent and fitted wardrobes, down 29 per cent.

House hunters are seeking outdoor spaces and better use of these garden spaces

House hunters are seeking outdoor spaces and better use of these garden spaces 

Rightmove’s Tim Bannister said: ‘Agents and developers have their finger on the pulse when it comes to the home features that will attract suitable buyers.

‘Where dining rooms and fitted wardrobes may not be as important to some potential buyers compared with ten years ago, other features like an outdoor office space have soared as working patterns have changed, and the findings indicate a move towards greener features too.

‘With outside space coming at such a premium, it may be that homeowners are ensuring what they build outside can be used in a number of different ways.

‘For example, summer houses and orangeries are likely to have fewer or smaller windows than conservatories, and so can more suitably double up as home offices during the week and entertaining spaces at the weekend.’

The proportion of property listings that mention bi-fold doors has increased 589 per cent compared to ten years ago

The proportion of property listings that mention bi-fold doors has increased 589 per cent compared to ten years ago

James Holmear, of developer Redrow, said: ‘These findings flow from the demand for more space at home which can accommodate blended personal and professional lives.

‘Home offices have been increasing in popularity as many people continue to work from home on a more permanent basis.

‘Bifold doors are also highly sought after as they enable people to use space flexibly and extend their living space seamlessly into the outdoors. Sustainable features such as EV chargers, solar panels, water butts and eco waste bins are all rising up the priority list.’

Steve Rule, of Cala Homes, said: ‘Over the last couple of years there has been a real shift in what home-hunters are looking for.

‘Buyers are considering in much more detail what they really want and need from their home, and on truly optimising their space, especially as many are spending more time there through home or hybrid working.

Adrienne Minster, of Rated People, added: ‘Homeowners want to reduce their impact on the planet and cut the cost of bills by making their homes more environmentally friendly – in fact, the number one reason for making eco improvements is to lower their bills.

‘So, with the rising cost of living and increasing awareness of the importance of living sustainably, it’s no surprise to see that more homeowners are choosing to make greener swaps and invest in the likes of underfloor heating.’

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7R to expand Park Lublin (PL)

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7R has obtained financing for expanding the modern logistics complex 7R Park Lublin. The loan agreement has been signed with a syndicate of banks – Santander Bank Polska and mBank. Ultimately, the park will consist of five buildings with a total GLA of nearly 110,000m².Bremer is the General Contractor of the project responsible for the work.

 

“Obtaining financing for the development of the 7R Park project shows the potential of both 7R as a developer providing modern warehouse space and the region’s potential for the growth of a new business,” said Tomasz Lubowiecki, CEO of 7R.

 

Currently, two out of five planned buildings have been completed in 7R Park Lublin, and one of the first tenants is the Lublin-based company – Spiżarnia.  The investment location close to the Lublin ring road offers convenient access to expressways and an excellent connection for sectors such as FMCG and TSL. Here, the most important communication routes intersect and railway infrastructure is being developed, which is the foundation of transport, allowing you to plan forwarding and transport operations throughout the country, as well as to Eastern Europe. The project is also BREEAM certified at the Very Good level, thus conforming to the idea of sustainable industrial construction and 7R’s mission and strategy.

 

The extension of the 7R Park Lublin facility is another example of investments carried out by 7R, which combines elements of sustainable construction, and at the same time fits into the company’s strategy – the systematic development of the portfolio of projects located in promising and well-connected locations. The investment is being implemented just 4 km from the centre of Lublin and close to the S17 expressway junction and the S12 road. This location’s development is of particular importance for the company; according to the report “The logistics and industrial sector. Development paths from the perspective of 2022”- prepared jointly by 7R and Colliers – it is the eastern part of the country, including the Lublin Province, that stands a chance of becoming a natural migration destination for companies that are withdrawing their logistics resources from countries like Russia and Belarus.

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