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Press launch – Wednesday 02 November 2022 – 17h45
ARGAN bought Renault’s largest spare car parts warehouses in a sale & lease-back deal
A brand new milestone in ARGAN’s improvement has been reached within the Sens area with the acquisition of a 153,200 sq.m actual property advanced devoted to spare car parts for the Renault Group, which is able to now be leased for a interval of 12 years as a part of a sale and lease–again transaction.
The web site of Villeroy inaugurated in Autumn 2006, is among the three facilities of the Parts and Accessories Logistics Department (DLPA) of RENAULT Group in France. It is a very powerful one with 600 jobs and its 153,200 sq.m are articulated round 4 logistic buildings of unitary sizes going from 33,000 to 43,000 sq.m. Renault Group would be the tenant any longer, with a 12 years lease. Located alongside the A19 freeway, which hyperlinks the A10, A77, A5 and A6 freeway, Villeroy is ideally located to achieve the entire of France.
That is why, within the quick time period, the Villeroy web site is meant to change into the central retailer for all of the spare parts and equipment exercise in France, and this, for all of the Renault Group manufacturers with a capability of greater than
70,000 references which will likely be shortly elevated to greater than 90,000. In order to help this enhance, the Group has launched an automation venture which will likely be operational in 2023.
An actual property funding plan for the positioning
The finances devoted by ARGAN to this new acquisition features a main funding plan that may allow the positioning to be saved updated with the most recent market requirements, together with the substitute of doorways and dock levelers, the refurbishment of roads, the renovation of premises and the enlargement of the parking zone.
ARGAN has thus added an distinctive Premium web site to its portfolio, each when it comes to measurement and the standard of its tenant.
Jean-Claude Le Lan, Chairman of the Supervisory Board of ARGAN, feedback: “This acquisition marks a major step in the development of ARGAN. Indeed, this site alone will represent 3.5% of the rents that will be collected by our real estate company in 2023. This transaction, initiated before the economic downturn of the last few months, was financed at relatively advantageous rates compared to today’s practice. Three years after the acquisition of the CARGO portfolio, ARGAN confirms its ability to invest in large-scale projects and its position as a major player in logistics real estate in France.
The transaction was led by CBRE. Renault Group was advised by the law firm Acte 2 and the law firm Franklin. ARGAN was advised by the law firm Jubault Chausse Delaplace.
Financial calendar 2023 (Publication of the press release after closing of the stock exchange)
- 3rd January 2023: Annual sales 2022
About Argan
ARGAN is the one French actual property firm specialising within the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT.
As at 30 June 2022, ARGAN’s portfolio amounted to three.3 million sq.m, comprising roughly 100 warehouses positioned solely in France, valued at €4.0 billion. ARGAN is listed on Compartment A of Euronext Paris (ISIN FR0010481960 – ARG) and is included within the CAC All-Share and IEIF SIIC France indices. The firm opted for the listed actual property funding firms (SIICs) tax regime on 01 July 2007.
www.argan.fr
- 20221102 – ARGAN – Renault VEN
