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EUROPEAN INVESTMENT

CONTACT

SIMON REED BSc MRICS

Director for European Investments

Simon joined IM Properties in August 2012 and is responsible for overseeing the activities of its multi-million pound Pan European investment portfolio. Previously Simon was a Partner at Knight Frank where he advised on a wide range of high profile UK and European projects.


IM Properties
(Europe) Holdings S.A.R.L
Luxembourg 6
Rue Eugène Ruppert
L-2453 Luxembourg
Grand Duchy of Luxembourg
Mobile: +44 (0) 7903 760894



BMW-Bavaria

FRANCE

IMP entered the French market in 2004, acquiring decentralised modern office investments on the periphery of Paris, Lyon and Rouen. Since then the portfolio has been subject to proactive asset management initiatives to add value via re-gears or lettings.


Limmonest (Lyon)

Limmonest (Lyon)

IMP acquired this 3,874 sqm multi-let office scheme in 2004 let to a total of 14 regional and national tenants. Located approximately 15km north west of Lyon this popular business district lies alongside the A6 (Paris – Lyon) motorway. In recent months the site has attracted new tenants such as Velux as their regional HQ.

Bussy St George

Bussy St George

IMP acquired Bussy Square in 2006 as a 5,440 sq m speculative office development in the heart of the town centre and immediately adjacent the RER train station. The building is multi –let to a variety of local and regional companies including La Poste and MGEN. Through a process of proactive marketing and asset management, occupancy levels have steadily improved over the last year to 70% with a further 20% currently in legals.

Maurepas

Maurepas

IMP acquired Maurepas in 2005 as a purpose built 2,660 sq m office and workshop facility for Gaz de France. The tenant had previously occupied the site for over 20 years and remains a strategically important location. In Spring 2014 we negotiated a regear of the lease securing the tenant remains a long term occupier of the site.

Rouen

Rouen

This property was acquired in 2004 comprising a 6,060 sq m purpose built office complex for SNCF who had occupied the site since 1980’s. In 2013 we successfully regeared the lease, extending it for a further 9 years.



GERMANY

IMP entered the German market in 2005 with the acquisition of 34,000 sq m logistics portfolio geographically spread across Germany. This was followed by further 38,000 sq m logistics acquisition near Munich. During 2006 – 2007 we also committed to acquiring or forward funding five retail projects across Germany, each anchored by strong nationally recognised tenants.


BMW Logistics Hub, Niederaichbach

BMW Logistics Hub, Niederaichbach

Following its purchase in 2006 and a lengthy period of negotiation with BMW, the existing 38,000 sq m warehouse facility was extended by a further 60,000 sq m to provide BMW with a purpose built “just in time” logistics hub. On completion of the development works in 2012, the lease was extended by a further 10.5 years. In 2013 the investment was successfully sold to a private Middle Eastern investor for ca €44m.

ToF Portfolio

ToF Portfolio

Acquired in 2005, this portfolio of 4 purpose built B2B warehouses located in Cologne, Kassel, Koblenz and Neumunster were each leased to Trans o Flex GmbH (subsidiary of Austrian Post AG). In 2014, following a successful regear of 3 buildings, the portfolio was sold to Valad Europe for a price of €26.1million.

Lobtau Passage, Dresden

Lobtau Passage, Dresden

Forward funded in 2009, this 5,500 sq m shopping centre is located in a popular residential suburb of Dresden approximately 6km west of the city centre. The centre is anchored by Rewe Supermarket and tenants include Reno, DM drogerie and Sternbeck (Food Court). The immediate area is due to undergo significant physical and landscape transformation as the existing tram/bus terminal is due to be subjected to upgrade to include partial pedestrianisation of Kesseldorfer Strasse.

Schloss Centre, Wittlich

Schloss Centre, Wittlich

Forward funded in 2010, this 6,500 sq m shopping centre is located in the heart of Wittlich town centre adjacent the bus station and pedestrianized high street. The centre is anchored by C&A and Muller with other key tenants including Reno, Mister & Lady and Depot. The property is currently subject to a feasibility study to identify new opportunities to reconfigure the internal areas to improve/maximise footfall and tenant mix (to include food).

Burg Centre, Stolberg

Burg Centre, Stolberg

Acquired in 2010, this 5,500 sq m retail and leisure shopping precinct is located in Stolberg adjacent to a Kaufland supermarket and local railway station (direct connections to Aachen). The centre is anchored by Rossmann, Reno, Mister & Lady, Tedi, KIK and Selection Fitness (first floor).

Braustrasse, Gera

Braustrasse, Gera

Acquired in 2006, this 7,800 sq m retail park is located to the south east of Gera town centre, adjacent and prominent to the town’s ring road. The park is anchored by Aldi supermarket, Maxi Media, Danisches Bettenlager and Multi Polster. We are currently investigating the feasibility of extending the site to accommodate a new supermarket and an extended Aldi supermarket.

Johann-Dahlem Strasse, Mainaschaff

Johann-Dahlem Strasse, Mainaschaff

Forwarded funded and acquired in 2006, this 10,000 sqm DIY store was 100% pre-let to Max Bahr (Praktiker). However following the insolvency of Praktiker AG in 2013, the building has been vacant since January 2014. The property is currently being subjected to a feasibility study to identify re-letting options either to a single tenant or multi let.



INVESTMENT STRATEGY

Our focus in Europe remains in Germany. Following out Asset Management successes and recent programme of disposals we continue to selectively look for further opportunities to “add value” across our European portfolio. Where appropriate we will also consider financing developments, Joint Venture opportunities and either retaining the investments in our portfolio or trading the projects on completion.