Some good late news on Friday10 Oct 2009 10:29
FURTHER PARIS DISPOSAL
Kenmore European Industrial Fund is pleased to announce that it has sold 85/109 rue Auguste Renoir, in Aulnay-sous-Bois in France, to an owner occupier for a net price of €2.4 million, which is significantly above the property's last valuation.
The property comprises a self-contained 4,223 sq m warehouse building, let until recently to Geodis, who vacated the premises at the end of August 2009. Located in the north-eastern suburbs of Paris, in the commune of Aulnay-sous-Bois, the property is situated in a popular distribution area, approximately eight miles from the centre of Paris and close to motorway connections and Charles de Gaulle airport.
This latest KEIF asset sale follows the recent disposals of its 22-unit industrial estate in Merksem in Belgium last month for €7.1 million and the IDF portfolio, comprising 17 assets in the Paris region, for €59 million at the end of July 2009, amongst others.