Savills Investment Management (“Savills IM”), the international real estate investment manager, and Vestas Investment Management (“Vestas IM”) have agreed two lease extensions totalling 46,000 sq m in France and Poland.
VM Building Solutions, a leading European supplier of zinc, EPDM, and copper materials for roofing and façade applications, has prolonged its lease for six years, covering 37,025 sq m at Lambres-lez-Douai Logistics Park in Northern France. The building holds a BREEAM New Construction ‘Very Good’ rating.
Located in the Lambres-lez-Douai Logistics Park, a major logistics hub in northern France, the building is managed by Savills IM for its Vestas European Strategic Allocation Logistics Fund I (“VESALF I”).
In Southern Poland, Omida Solutions has extended its lease for five years, covering 8,695 sq m at Beskid Park II, a fully let logistics park.
Beskid Park II was purchased on behalf of Vestas European Strategic Allocation Logistics Fund II (“VESALF II”) and consists of five buildings totalling around 90,000 sq m, all of which hold BREEAM ‘Very Good’ ratings.
Located in Czechowice-Dziedzice, in the Upper Silesia region of Poland, the site sits in a well-established cross-border hub with direct access to national road no. 1 and the A4 highway.
Part of Omida Group, Omida Solutions has been a tenant at Beskid Park II since 2022 and is known for providing 3PL services.
Laurent Vouin, Head of France Savills Investment Management, said: “Securing long-term commitments from these high-quality occupiers reflects the strength of our logistics portfolio and the confidence tenants place in these strategically located assets. In today’s more volatile European lettings market, the standard and connectivity of these assets, combined with our proven asset management approach, allows us to continue delivering long-term and stable income across Europe’s key logistics corridors.”
Isabella Valgimigli, Portfolio Manager at Vestas Investment Management Europe Ltd, said: “We are delighted to have secured successful lease extensions with two key tenants at our logistics assets in Poland and France. These renewals underscore the continued strength of our tenant relationships and the strategic importance of our assets in core European logistics hubs.”
Launched in 2020, VESALF I is a pan-European logistics fund with Vestas IM, advised by Savills IM, and among the first blind-pool vehicles raised solely from Korean institutional investors to invest in core and core-plus logistics assets across Europe. VESALF II, launched in 2022, follows a similar strategy, building on the success of the first fund.
Savills IM’s France office manages a portfolio of approximately €1.3 billion of assets in France, Belgium and Luxembourg, and €1.7 billion of assets across logistics, office and retail in Poland. Its France portfolio covers 830,000 sq m, including 750,000 sq m of logistics, while in Poland it has expanded to around 1.5 million sq m over the past eight years. Both markets remain key to the firm’s pan-European strategy, with investments made through various funds and mandates.