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

17 July 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real Estate: Talking points July 2024

Political stability, rebased pricing, falling inflation and the expectation of rate cutting are collectively expected to provide a more supportive environment for UK real estate.
Read time 2 min
21 June 2024

James Coke

Fund Manager & Co-head of Institutional UK Real Estate

Emma Gullifer

Assistant Fund Manager

Green to gold: realising opportunities from the carbon transition

We explore the interventions required to monetise green energy, and how investors might benefit from the carbon transition.
Read time - 2 min
22 May 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real estate – Overview Q1 2024

Total returns for the UK commercial property market turned positive in Q1 2024.
Read time - 3 min
25 April 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real Estate: Talking Points April 2024

Our quarterly snapshot of current real estate market trends.
Read time - 2 min
15 February 2024

Hans Nordby

Head of Research & Analytics, Real Estate (US), Lionstone Investments

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

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.
Read time - 4 min
12 December 2023

Assia Amore

European Fund Manager, Real Estate

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

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.
Read time - 3 min
22 December 2022

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

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
14 March 2022

Solutions Enhanced: Capital Market Assumptions 2022 Making a transition

The end of 2021 saw a continuing reminder of the impact of coronavirus, inflation occurring in major economies, and the world waking up to the stark choices presented by the climate emergency. We set out the expectations for what all this could mean for investors over the next five years and in the longer run. These capital market assumptions form the base case we use when constructing strategic asset allocations for clients.
Read time - 3 min
15 December 2021

James Coke

Fund Manager & Co-head of Institutional UK Real Estate

UK Real Estate: how to follow a record 2021?

James Coke looks at how the UK market might follow a record 2021, and while we don’t expect next year to deliver comparable capital value growth, it is likely to witness similar positive supply and demand dynamics which should maintain market momentum
Read time - 3 min

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