2010 lettings success for Valad in CEE

17 ianuarie 2011, 03.39 - Afaceri   Construcţii   Imobiliare  

Bucureşti - 17 ianuarie 2011 - Valad, the European multi-let real estate investment manager, achieved further success with lettings in the CEE region during 2010, with nearly 120,000 sq m of space let, generating nearly €6 million of rental income for the Central European Industrial Fund (“CEIF”).

CEIF is asset managed by Valad and fund managed by Aviva Investors through a joint venture which was established in 2005. It invests in multi-let industrial property across Central Europe with a primary focus on Poland, Hungary Romania and the Czech Republic.

Valad’s CEE team, which manages a total of 630,000 sq m for CEIF, across Romania, Hungary, Poland and the Czech Republic, achieved new lettings during 2010 of 38,230 sq m of predominantly warehouse space generating an annualised rental income of over €2.1 million. In the same period it renewed leases on 81,431 sq m with an annualised rental value of €3.8 million.

Highlights for the year included a new four year letting totalling more than €800,000 for 4,303 sq m of warehouse and office space at the A1 Business Park, Bucharest to Valsider Production, a sister company of the Italian steel giant, Cordioli. Elsewhere, a new seven year lease for 2,800 sq m was secured on the Budaörs Business Park in Hungary to Friss és Ropogós, a leading Hungarian bakery.

Key lease renewal deals included the five year renewal for 37,213 sq m of space at IOG Sanitas in the Czech Republic to Fast CR, a leading white goods retailer, at a rent of €1.3 million per annum. In Poland, Thomas Beton, a supplier of ready-mixed concrete, renewed their lease for a further 10 years on 5,502 sq m of space at City Point, at a rent of €59,000 per annum.

Matthew Bann, Valad’s Head of CEE, commented: “The CEE team’s hard work was rewarded with an encouraging number of new lettings and renewals in 2010, showing a good uplift compared to last year. We are looking to build on this solid performance in 2011 as markets continue to stabilise across the region.”

Valad manages 630,000 sq m of space in the CEE and has a team of 16 working out of offices in Romania, Hungary, Poland and the Czech Republic.

About Valad.

Valad Property Group is a leading multi-let investment manager with an international network of local offices managing over €6.2 billion globally.

In Europe, Valad manages 900 assets in 15 funds with a value of greater than €5 billion. Its core business is value-adding real estate investment management with local asset management teams taking care of over 8,500 tenant customers.

Valad has 250 staff and 20 offices in 12 countries across Europe and 300 staff worldwide and is listed on the Australian Stock Exchange.

For further information contact:
Jeremy Carey, James Verstringhe, Tavistock Communications
Tel. +44 20 7920 3150
Louise Bathersby, Valad
Tel. +44 20 7659 6710 louise.bathersby@valad.co.uk
Silviana Badea, Valad
Tel. +40 21 211 0044 silviana.badea@valad.ro


Cuvinte cheie:  Valad  construction  real estate 

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