Merlin Properties unveils the SI-20 platform developed and built by Montepino
Málaga, Wednesday 4th May 2017
On 4th May, Montepino finalised the sale of one of its star projects, the SI-20 logistics platform covering over 240,000 m2 in the municipality of Cabanillas del Campo (Guadalajara). The purchaser, Merlin Properties, one of the largest real estate investment trusts (REITs) in Spain, has confirmed in a press statement that the installations are "a hundred percent" occupied by some of the most important logistics operators in the country.
Montepino has developed and built up over 152,000 m2 of this platform, and following the sale of the same, it will have invoiced a total of over €75 million, the Aragón-based company's Vice President of Operations, Juan José Vera, has revealed. However, this "successful" operation, as defined by Vera, was closed at the end of 2015.
Montepino's acquisition of the plots of land two years ago has undoubtedly consisted of the largest purchase of industrial land since the bursting of the real-estate bubble in 2007. Similarly, the decision of Merlin Properties, the largest real-estate company listed on the Spanish stock market with an approximate capitalisation of €5.1 billion, to opt for this interesting project at this time is to be commended.
As explained by Merlin Properties through said press statement, the SI-20 platform, which consists of four buildings provided by Montepino and one other by a local company, has been acquired for €96.1 million and will bring in a gross annual income of €7.8 million, equivalent to a gross yield of 8.2% of the cost, Merlin Properties have specified.
The success of this provision and development by Montepino, as well as the purchase of the platform by Merlin, clearly demonstrate the successful time the logistics sector in Spain is passing through, spurred on by the economic growth, exports being at an all-time high and, above all, the rapid growth of online sales.
Spain became the European country with the highest growth in online sales last year: 19% more than in 2015. Even so, some areas of the EU are far ahead. In our country, online sales represent 4% of total retail sales, while the average in the EU is close to 10%.
Future prospects for Montepino are very bright, asserted Juan José Vera, who trusts they will continue to be "leaders" and to maintain "the trust of our clients, who have enabled Montepino to become a leading company within and outside Spain."
IN THE LOGISTICS SPOTLIGHT
The SI-20 platform, now known as Merlin Cabanillas, is located in the logistics spotlight in Spain: the Corredor de Henares region. Practically all the largest national and international operators can be found in this area. It is clear that Cabanillas in Guadalajara is a competitive location for logistics.
The four buildings that make up the platform – the smallest of which covers 19,000 m2 and the largest of which measures 53,000 m2 – are now all occupied by some of the most important logistics companies operating in Spain: Logista, XPO and Luís Simões, Vera pointed out.
The latter decided to "opt for the platform we built to set up as their operations centre and centralise their warehouses which serve the whole country logistically," he added.
Located 50 km from the centre of Madrid and 42 km from the Adolfo Suárez Madrid-Barajas airport, the platform is ideally located for effective and rapid mobility. There are several access routes to the platform, such as its direct connections with the A-2 and R-2 motorways.