Past performance is not a guide to future returns. An illustrative example. The presented asset is closed to new investors.
Overview
A brownfield speculative development, the previous building was demolished and replaced by a newly built, modern cross-docking facility delivering last mile logistics to city centre Lyon. The business plan included successfully pre-leasing the building during construction to the French Post Office all while benefitting from a strong leasing market and consistent rental growth.
Background
- The opportunity was sourced off-market via a developer with whom we entertain a long-term relationship.
- The property is located in the closest logistics market to the city of Lyon, which is primarily used for last mile delivery.
- Leasing led to the signature of a 9.5 years closed lease with the French Post Office (La Poste) within only 2 months following the beginning of construction.
- As La Poste had been identified early in the design process, we were able to tailor the project to their operation while maintaining a flexible cross-docking layout.
- Works were delivered in July 2021 following a 14-month construction period.
Key metrics
Location
9 avenue du 24 août 1944, Corbas (Lyon), France
Investment strategy
Speculative development
Sector
Logistics
Gross leasable area
12,862 sqm
Acquisition date
May-20
Insights
25 April 2024
Alternatives
Outlook
Head of Research, Europe, Real Estate (EMEA)
UK Real Estate: Talking Points April 2024
UK Real Estate: Talking Points April 2024
Our quarterly snapshot of current real estate market trends.
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15 February 2024
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Real Estate
Head of Research & Analytics, Real Estate (US), Lionstone Investments
Head of Research, Europe, Real Estate (EMEA)
2024 Global Real Estate Outlook
2024 Global Real Estate Outlook
What's in store for real estate in 2024? Global megatrends and financial conditions will impact returns and sector allocation.
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20 December 2023
Alternatives - Real Estate Securities
Alternatives, Real Estate
Head of Property Investment, Thames River Capital
Fund Manager
Targeting relative value in listed real estate
Targeting relative value in listed real estate
With inflation data suggesting we are at or near the peak in interest rates and investors assessing scope for cuts in 2024, real estate equities have risen sharply from their lows.
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12 December 2023
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Real Estate
European Fund Manager, Real Estate
Managing Director, Head of France, Benelux & Southern Europe, Real Estate
Head of Research, Europe, Real Estate (EMEA)
The resurgence of Europe’s luxury high streets is gathering momentum
The resurgence of Europe’s luxury high streets is gathering momentum
High street retail markets across Europe are benefitting from the solid recovery of tourism, both international and domestic.
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30 June 2023
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Outlook
Fund Manager & Co-head of Institutional UK Real Estate
UK real estate: half-year health check
UK real estate: half-year health check
Despite volatility in the UK property market over the past 12 months, there's been a nascent pricing recovery since March. So, what's the outlook like for the rest of the year?
Read time - 4 min
20 March 2023
Alternatives - Direct property
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Fund Manager & Co-head of Institutional UK Real Estate
Co-Head of Institutional, UK Real Estate
Delivering sustainable returns in real estate investing
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Climate change is affecting every sector of our economy, and it remains one of the most important factors to consider when making long term investment decisions.
Read time - 8 min
17 March 2023
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Real Estate
Global Head of Alternatives
Real estate – understanding the new normal
Real estate – understanding the new normal
Where next for real estate? With sections on the UK, Continental European and US real estate our team take a closer look at the economic backdrop, activity in 2022, the outlook for 2023 plus strategy calls across various sub-sectors.
Read time - 9 min
15 February 2023
Alternatives - Direct property
Alternatives
Director, Property Funds
Assistant Fund Manager
Build to rent investment – performance, resilience, and a great diversifier
Build to rent investment – performance, resilience, and a great diversifier
Residential property is no longer an emerging asset class or viewed solely as an ancillary part of a commercial property allocation.
Read time - 5 min
22 December 2022
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Outlook
Head of Research, Europe, Real Estate (EMEA)
Real Estate: Preserving Value
Real Estate: Preserving Value
There was a definite air of positivity in European real estate markets in January and February 2022.
Read time - 4 min
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