Paris and Lognes, 5 October 2017 – Gazeley and Argan, both leading global investors and developers of logistics warehouses, announce the signing of an agreement with Conforama, one of Europe’s largest home furnishings retail chains, for the construction of a new distribution and storage facility measuring approximately 180,000 SQM in Tournan-en-Brie (77) in eastern-Paris. The dimensions and capacity of this warehouse will make it the largest logistics building developed in France.
This warehouse will be built on a 33-hectare plot in Tournan-en-Brie, in Seine-et-Marne, within the “Terre Rouge” business park, giving it direct access to the main roads of the Paris Region.
Alexandre Nodale, Chairman and CEO of Conforama commented: “This new facility, which will gradually come into operation between June 2018 and April 2019, will cover all of our store and e-commerce logistics needs for the northern part of France. In particular, it will make it possible to optimise delivery times within the region further. This facility will also benefit from high environmental credentials which will enable it to be certified BREEAM Very Good. ”
Fabrice Cervoni, Managing Director Southern Europe of Gazeley said: “In partnership with Argan, we are proud to be able to announce today the development of the largest logistics warehouse in France and one of, if not the largest in Europe. We are particularly proud to have been chosen by Conforama and delighted with the renewed confidence of investor Steinhoff International Group for which we have already developed logistics projects elsewhere in Europe. This development underlines our ability to deliver some of the largest and highest quality logistics warehouses in Europe.”
Jean-Claude Le Lan, Founding President of Argan commented: “Reaching agreement on this logistics project is the result of close collaboration between a number of parties including Conforama, various government departments, the department of Seine-et-Marne, of Tournan-en-Brie, CBRE Global Logistic Services, adviser to Conforama, Argan and Gazeley. I thank them all and congratulate them. This constructive partnership will allow us to realise an exemplary project on behalf of our client.”
About Conforama Group
Conforama Group is a major household goods player in Europe, both for its network of stores and website. The retailer has 314 stores, including 205 in France. Conforama’s international presence is made up of 109 stores in seven countries: Spain, Switzerland, Portugal, Luxembourg, Italy, Croatia and Serbia. Conforama achieved a turnover (excluding tax) of 3.5 billion euros in 2015/2016 (financial year ending 30 September 2016) and has 14,000 employees. For more information: www.groupeconforama.fr
Gazeley, the European division of global logistics company Gazeley, is a leading investor and developer of logistics warehouses and distribution parks with a 33 million square foot portfolio concentrated in Europe’s key logistics markets, namely the UK, Germany, France and the Netherlands. It comprises 17 million square feet of existing assets, which are 98% leased, and a development pipeline of 16 million square feet.
On 2 October 2017, GLP, the leading global provider of modern logistics facilities, announced the acquisition of Gazeley from funds managed by Brookfield, the global alternative asset manager. The transaction is set to complete by year end.
The full announcement released on the Singapore Stock Exchange (SGX) can be found at:
For further information about Gazeley, please go to www.gazeley.com
For further information about GLP please go to www.glprop.com
For further information about Brookfield please go to www.brookfield.com
Argan is the leading French property company specialising in the development and rental of premium warehouses for industry leading companies. Argan combines a clear strategy, implemented by the majority shareholder and delivered by a team of expert executives, with the transparency of a listed company.
With a portfolio of fifty Premium warehouses, valued at € 1.1 billion as of June 30, 2017, Argan is an innovative and effective global expert in logistics real estate. Argan is listed on compartment B of Euronext Paris (ISIN FR0010481960 – ARG) and is included in the CAC All-Share and IEIF SIIC France indices. The property company opted for the SIIC regime on 1 July 2007.
More information can be found at www.argan.fr
|– Land||33,3 hectares|
|– Building||177 500 SQM (800 m long and sur 250 m wide)|
|– Storage capacity||270 000 pallets|
|– Dock doors||187|
|– Investor||Groupe Steinhoff International|
|– Developer||Gazeley et Argan SA|
|– Contractor||Groupe IDEC|
|– Architect||A26 Architectures|
|– October 2017||Construction start|
|– Mid 2018||Completion stage 1 (63 000 SQM)|
|– End 2018||Completion stage 2 (46 500 SQM)|
|– Spring 2019||Completion stage 3 (68 000 SQM)|
Caroline Ferlande : +33 1 44 43 49 50 – E-mail: email@example.com