Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Buys a freehold car showroom property in Cannes, southern France, for EUR8.4 million, reflecting a net initial yield of 5.5%. The showroom is fully let to FCA Motor Village France, a subsidiary of the global automotive manufacturer Stellantis NV. Brands traded from the asset include Fiat, Alfa Romeo, Jeep, Abarth and Lancia. The remaining lease term is three calendar years. The property serves as the tenants' primary car showroom within a broader agglomeration spanning over 20 dealerships.
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By Artwell Dlamini; artwelldlamini@alliancenews.com
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Schroder Eur.r (SERE)