ARGAN will acquire a 153,000 m² logistics platform dedicated to automotive spare parts
18 Juli 2022 - 5:45PM
ARGAN will acquire a 153,000 m² logistics platform dedicated to
automotive spare parts
Press release –
Monday 18
July
2022 – 17h45
ARGAN will acquire a 153,000 m² logistics
platform dedicated to automotive spare
parts
ARGAN has signed a sale and leaseback
agreement with Renault Group for a
153,000 sq.m logistics
platform on a 300,000 sq.m
land bank,
located in the town of FOUCHERES (89), 110 km from
Paris, at the center of three highways (A19, A6, A5),
making it an ideal hub for serving France. The effective sale is
planned for October 2022
This platform will be let with a 12-year
firm-lease signed by Renault Sas, in line with the long-term
viability of the site's Renault Logistics After Sales activity,
which remains unchanged by this sale. This site employs more than
600 employees.
It will be financed according to our usual
scheme: 30% by self-financing and 70% by a fixed-rate amortizable
mortgage loan. This investment will generate an increase in our
annualized rental income of approximately 4%. Thanks to this
acquisition and its other developments, Argan expects to
have a total portfolio of 3.5 million
sq.m at the end of December 2022, up 6%
year-on-year.
Built in 2007 and conforming to today's
standards, this platform is divided into 4 juxtaposed and
interconnected warehouses, which is a favorable factor for possible
divisibility. Its electrical consumption already complies
with the requirements of the 2030 tertiary decree.
About the automotive aftermarketAccording to
Xerfi study, "The automotive aftermarket", May 2022 edition
This spare parts market is growing and
amounts to €13.5 billion, shared between manufacturers and
independents roughly 50-50. Given the rapid development of electric
vehicles, the used car market is becoming a real industry that will
be structured and developed.
Financial calendar 2022 (Publication of the
press release after closing of the stock exchange)
- 20 July: Half-year
results 2022
- 3 October: 3rd
quarter sales 2022
About Argan
ARGAN is the only French real estate company
specialising in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES
listed on EURONEXT. ARGAN is listed on Compartment A of Euronext
Paris (ISIN FR0010481960 - ARG) and is included in the CAC
All-Share and IEIF SIIC France indices. The company opted for the
listed real estate investment companies (SIICs) tax regime on 01
July 2007.
Francis
Albertinelli – Chief Financial and Administrative Officer Stéphane
Saatdjian – Investor RelationsTel: +33 1 47 47 05 46 E-mail:
contact@argan.fr |
Aude Vayre – Media relationsTel: +33 6 14 64 15 65E-mail:
argan@citigatedewerogerson.com |
- 20220718 ARGAN Renault vdef en
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