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Success of eCommerce related new business drives growth
With growing interest in the combination of air freight services and efficient warehouse solutions, Montea has signed new leases at its Flexport City site at Liege Airport in Belgium.
Montea started at Liège Airport with the development of 20,000 m2 in warehouse units and related offices. In phase 1 and 2, 12,200 m2 are being developed, 5,200 m2 of which have already been let to Malysse-Sterima.(phase 1).
In the meantime, Montea has let the remaining floorspace (phase 2) to (i) Easylog Solutions BVBA, under a lease for 3,728 m2 for a term of none years, which will generate rental income of €186,805 per year (from October 2018); and (ii) ASFS BVBA, under a lease for 3,714 m2 for a fixed term of nine years, which will generate rental income of €186,730 per year (from December 2018).
Both companies are active in air freight and are expanding their activities are Liège Airport because of the growing success of eCommerce related new business and the presence of international players.
The investment for phase 1 and 2 will amount to €9.0 million, and represent a return of 7.2%. In view of the successful results and the strong interest shown by the market, Montea is now considering to proceeding further with phase 3, with 7,500 m2 of floorspace.
Additionally, Montea has acquired a building in Le Mesnil-Amelot, uniquely situated at Roissy Charles de Gaulle airport. The 1,448 m2 distribution centre is divided into two units and is let to BH Catering (918 m2) and SGSF Aéro (530 m2). The total investment value amounts to €1.8 million at an initial return of 6.8%. With this transaction, Montea’s portfolio at this airport location exceeds 20,000 m2.