Acquisition office development project in Paris
Wereldhave
21.12.2011 07:55
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Wereldhave has reached agreement on the acquisition of an office building yet
to be built in Paris. The project, designed by Architect Jean-Paul Viguier, is
located on the Seine river banks in the very wealthy south-western Parisian
suburb of Issy-Les-Moulineaux.
The project will be developed by BNP Paribas Real Estate on a turnkey basis,
with Wereldhave taking on the letting risk. The investment volume will amount
to around EUR 138 mln, including costs, which upon completion is expected to
produce a net initial yield of approximately 7.3%.
The property is part of a twin project called 'NODA' and 'VEGA', oriented
towards the Seine, the 'Ile Saint Germain' and its protected park. Wereldhave
acquires the NODA building, the twin VEGA building has already been sold to a
renowned cosmetics company for its headquarters in Paris. NODA will become a
state-of-the-art office building of 22,123 m(2) net lettable area (including
1,214 m(2) for the staff restaurant), divided over seven large floor plates and
allowing a division in 2 lots per floor and a floor occupancy of 1 person per
12 m(2) (hence able to host 1,850 persons). The building has two underground
parking layers for 312 parking spaces. It features excellent accessibility by
public transport and car, as it will be located near a station of the RER C and
at 1-2 minutes walking distance from the tram with connections directly to La
Defense. In addition, the location offers direct access to/from the Boulevard
Peripherique.
The project will comply with the most recent criteria for sustainability,
amongst which the BREEAM Excellent label. Construction is expected to start in
the third quarter of 2012 with completion scheduled for the third quarter of
2014.
On December 13, 2011, in the United States Wereldhave sold the residential
property Arboretum Estates, Richardson, near Dallas, for circa USD 26 mln,
slightly above book value.
Hans Pars, CEO of Wereldhave N.V., comments:
'This purchase perfectly fits in our strategy in which our French activities
will be concentrated on sustainable and efficient high quality office buildings
in Greater Paris which are readily accessible by car and even more important by
public transportation. There is a healthy demand in the Greater Parisian office
market from tenants for efficient, energy conscious and well located office
space larger than 10.000 m2. We are therefore confident in successfully letting
this development.'
The Hague, 21 December 2011 Board of Management Wereldhave N.V.
For further information:
Wereldhave N.V.
Richard W. Beentjes
Tel. + 31 70 346 93 25
Information for analysts:
Wereldhave N.V.
Charles F. Bloema / Jaap-Jan Fit
Tel. + 31 70 346 93 25 / +31 70 309 45 43
Click on, or paste the following link into your web browser, to view the associated documents
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=372604
News Source: NASDAQ OMX
21.12.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Wereldhave
Netherlands
Phone:
Fax:
E-mail:
Internet:
WKN:
End of Announcement DGAP News-Service
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Wereldhave
21.12.2011 07:55
---------------------------------------------------------------------------
Wereldhave has reached agreement on the acquisition of an office building yet
to be built in Paris. The project, designed by Architect Jean-Paul Viguier, is
located on the Seine river banks in the very wealthy south-western Parisian
suburb of Issy-Les-Moulineaux.
The project will be developed by BNP Paribas Real Estate on a turnkey basis,
with Wereldhave taking on the letting risk. The investment volume will amount
to around EUR 138 mln, including costs, which upon completion is expected to
produce a net initial yield of approximately 7.3%.
The property is part of a twin project called 'NODA' and 'VEGA', oriented
towards the Seine, the 'Ile Saint Germain' and its protected park. Wereldhave
acquires the NODA building, the twin VEGA building has already been sold to a
renowned cosmetics company for its headquarters in Paris. NODA will become a
state-of-the-art office building of 22,123 m(2) net lettable area (including
1,214 m(2) for the staff restaurant), divided over seven large floor plates and
allowing a division in 2 lots per floor and a floor occupancy of 1 person per
12 m(2) (hence able to host 1,850 persons). The building has two underground
parking layers for 312 parking spaces. It features excellent accessibility by
public transport and car, as it will be located near a station of the RER C and
at 1-2 minutes walking distance from the tram with connections directly to La
Defense. In addition, the location offers direct access to/from the Boulevard
Peripherique.
The project will comply with the most recent criteria for sustainability,
amongst which the BREEAM Excellent label. Construction is expected to start in
the third quarter of 2012 with completion scheduled for the third quarter of
2014.
On December 13, 2011, in the United States Wereldhave sold the residential
property Arboretum Estates, Richardson, near Dallas, for circa USD 26 mln,
slightly above book value.
Hans Pars, CEO of Wereldhave N.V., comments:
'This purchase perfectly fits in our strategy in which our French activities
will be concentrated on sustainable and efficient high quality office buildings
in Greater Paris which are readily accessible by car and even more important by
public transportation. There is a healthy demand in the Greater Parisian office
market from tenants for efficient, energy conscious and well located office
space larger than 10.000 m2. We are therefore confident in successfully letting
this development.'
The Hague, 21 December 2011 Board of Management Wereldhave N.V.
For further information:
Wereldhave N.V.
Richard W. Beentjes
Tel. + 31 70 346 93 25
Information for analysts:
Wereldhave N.V.
Charles F. Bloema / Jaap-Jan Fit
Tel. + 31 70 346 93 25 / +31 70 309 45 43
Click on, or paste the following link into your web browser, to view the associated documents
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=372604
News Source: NASDAQ OMX
21.12.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Wereldhave
Netherlands
Phone:
Fax:
E-mail:
Internet:
WKN:
End of Announcement DGAP News-Service
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