Renault and Montea have joined forces to develop a built-to-suit warehouse in Meyzieu, near Lyon. The land on which the project is to be erected was acquired earlier this year by Montea as part of its extensive land bank.
This transaction ensures that Montea’s rental income in France is increased by 10%. The real estate expert has assessed this transaction at an initial yield of 5.5%. This transaction accounts for an increase of €14.4 million for Montea’s real estate portfolio.
Montea and Renault have signed a 9-year lease for this project. After delivering a cross-dock building to the specifications of Renault, the group will house its subsidiary ACI in the premises in order to bring together their activities such as the machining, assembling and packaging of spare parts, while creating space to implement new activities such as 3D printing, mechanical welding, and the installation of the latest generation of technological units. The foundation stone was laid at the beginning of the summer. This very smooth and efficient cooperation ensures that Renault will soon have a suitable solution to house their activities.
Eric Arduin, Project General Manager, Renault: “ACI had to find a new location for its activities where heavy traffic is possible and where no nuisance is caused by typically industrial activities. The site in Meyzieu which Montea proposed to us is therefore ideally situated, with direct access to the motorways, but also close to public transport. Montea worked out a customer-oriented solution for us which is both flexible and geared to the long term.”
The land with an area of more than 3 hectares constitutes an ideal location for logistics, to the east of Lyon and located 10 km from Lyon Saint-Exupéry airport and 10 minutes from the Lyon Saint-Exupéry TGV (high-speed train) station (via the RhôneExpress).
Montea acquired this land earlier this year by putting three smaller plots together to form one logical whole. In so doing, Montea focused yet again on the sustainable use of open space here in Meyzieu as well, as it looked into how plots of land already in use in an industrial zone could be reused instead of encroaching on new green space.
Montea reinforces presence in France
Montea has been active in France since 2006. To expand its role as developing property investor in France also, Montea has been working together for nearly two years now with J MO, represented by Julien Mongoin. The combination of Montea’s financial clout with J MO’s many years of experience and extensive network makes Montea a strong developing investor for the French market. This project for Renault reinforces Montea’s presence in the south of France.
Julien Mongoin (J MO): “This project between Renault and Montea is the result of a win-win cooperation with all stakeholders: Renault-ACI which was quick to put its trust in us, Christophe Quiniou, the mayor of Meyzieu and his supporting services which advised and guided us through the entire administrative process, and Montea which as an investor meets the expectations of its clients.”
Aktiv Real Estate and JLL were informed in this project for the acquisition of the land and for the negotiations on the BEFA (Bail en Etat Futur d'Achèvement) respectively. The architectural design of this building has been entrusted to Agence FRANC. HTC Lyon is responsible for the development of the building.