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Thursday, 15 September 2016
Retail sector drives strong operational results for Goodman in France
Goodman Group, a global leading owner, developer and manager of industrial real estate, announces strong development and leasing results in France at the close of its fiscal year, ending 30 June 2016. Goodman completed over 170,000 sqm of new logistics space and signed 250,000 sqm of leasing deals across its existing portfolio during this period. Globally, the Group grew its assets under management to €23 billion, an increase of 13%.
“Through our strong customer relationships and our dedication to quality, Goodman has concluded its 2016 fiscal year with its strongest performance since starting operations ten years ago. We have been able to capitalise on the momentum built from the previous year to bolster our strong position in the French logistics real estate market,” said Philippe Arfi, Goodman Country Director for France. “The growth of the business will continue to be driven by our strong development activity, while at the same time relentlessly maintaining the quality of our existing portfolio and searching the market for strategic acquisitions.”
Retail sector drives growth in France
During its 2016 fiscal year, brick-and-mortar and online retailers were the drivers behind Goodman’s strong operational results in France, both in terms of development activity and leasing across its existing portfolio.
In France, Goodman commenced the development of approximately 155,000 sqm of new logistics space and delivered 170,000 sqm, with the retail sector representing 85% and 95% of this space, respectively. Within its existing portfolio, over 75% of the space leased in the fiscal year was signed with retail companies, largely in the ecommerce space.
“The weight of the retail sector on our business activities is a reflection of two major trends: the rapid growth of ecommerce, and the consolidation and modernisation of logistics networks by retailers,” commented Arfi.
Strategic market acquisitions
In February of this year, Goodman announced the acquisition of 35 hectares of prime land in Douai Agglomeration, Northern France. This prime land bank, located 40km south of Lille, provides Goodman with the opportunity to develop 158,000 sqm of new logistics space, spread across three buildings.
Additionally, Goodman’s flagship European real estate investment vehicle, Goodman European Partnership, acquired a 43,000 sqm logistics centre in L’Isle d’Abeau Logistics Park, the largest logistics hub in France, just 30km from Lyon. The facility was immediately leased to Groupe-Auchan, highlighting the quality and demand for this location.
Record year in Continental Europe
Throughout its operations in Continental Europe, Goodman signed a record 1.35 million sqm of lease agreements across its existing portfolio, maintaining strong portfolio performance with 97% occupancy. The Group also added 766,000 sqm of new supply and commenced the development of approximately 920,000 sqm of logistics space. Continued strong development activity led Goodman to be named Europe’s Top Developer for the fifth consecutive year by PropertyEU.
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For further information, please contact Goodman:
Communications Manager CE
+32 2 451 42 08