SALE & LEASE BACK TOP RETAIL OPERATOR (14,000 M2)

Description

Off-market sale and leaseback opportunity on a 14,000 m² retail warehouse on a 27,131 m² plot, located at Calle Roine 7(A), PR-07, in Sant Cugat del Vallès (Barcelona). The asset is occupied by Leroy Merlin, the French multinational of the Adeo Group specialising in DIY, construction, decoration and gardening, present in 13 countries with 120 stores and more than 18,000 employees in Spain. Although the property is not officially on the market, the company has launched a process to channel the transaction as part of its real estate divestment strategy aimed at strengthening its expansion in Europe, and is willing to consider offers at around a 5% net yield. The proposed lease terms include a 30-year term, with a 7-year mandatory period and 1 year's notice, an annual rent of €1,500,000, and community charges and property tax (IBI) borne by the tenant. A very solid product, with a top-tier tenant, in a strategic area with excellent connections and visibility.