Savills Investment Management (“Savills IM”), the international real estate investment manager, has acquired two urban logistics assets in Amiens and Valence, France, for its European Urban Logistics & Industrial Fund (“EULIF” or “the Fund”). The seller is 6e Sens Immobilier, one of the major player in property development and value enhancement in France.
large warehouse with cargo doors
Completed in 2021, the portfolio comprises of two modern, cross-dock assets, which offer a total of 11,822 sqm of lettable space and are fully let to Kuehne+Nagel, the global transport and logistics company, with a WAULT of c. seven years. The assets are strategically located along the main French logistics corridor, near major highways and close to urban markets where Kuehne+Nagel has been established for nearly 30 years.
Targeting BREEAM In-Use ‘Very Good’ certification, both facilities are equipped with EV charging stations and LED lighting, with the Valence asset also having PV panels installed on the roof.
The transaction is the second acquisition completed for EULIF, following the purchase of a multi-let light industrial park in Essen in Q3 2023. The Fund is a Core+ open ended structure and was launched in January 2023 with a strategic focus on urban logistics and light industrial properties in supply-constrained European logistics markets.