Fri, 30/11/2012 - 16:20
Secure Property Development & Investment, formerly Aisi Realty, has secured a 52,835 square foot letting on a five year lease to supermarket operator BILLA-Ukraine Enterprise at its main operating asset, Terminal Brovary Logistics Park in Kiev, Ukraine.
The deal means the park is now 90 per cent occupied.
BILLA was previously present at the park, occupying space sub-let by DSV. Following the termination of DSV’s lease at the park, BILLA has now taken all of the 35,765 sq ft that was previously let to DSV and an additional 17,070 sq ft.
BILLA is a subsidiary of REWE Group, one of the leading food retail groups in Europe, which operates in 16 countries and generates turnover of c. EUR51bn per annum. BILLA has been active in the Ukraine since 2000 and now operates 22 supermarkets in the country, employing 1,500 people.
Since the introduction of the new internal management in August 2011, occupancy at the park has increased from a low of 20 per cent to its current level and the property has become cash flow positive.
Situated in the Ukrainian capital of Kiev, Terminal Brovary comprises circa 525,000 sq ft of Class A warehouse and associated office space and is well-located, adjacent to the junction of the main Kyiv – Moscow highway and the Borispil road.
Lambros Anagnostopoulos, chief executive officer of Secure Property, says: “The letting to BILLA follows a series of successful deals in recent months that have helped us reach the level of almost full occupancy at Terminal Brovary, as we work to maximise income from the property. BILLA is a well-established and growing business, particularly in Eastern Europe, and represents an excellent addition to our roster of tenants at the Park, and its decision to expand its space is a strong endorsement of Terminal Brovary.”
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