Valad and Aviva Investors‘ Central European Industrial Fund with new leases in Moravia and Uhrineves

Valad / Aviva Investors’ Central European Industrial Fund (CEIF) have recently agreed two new lease extensions in Southern Moravia and one new letting at Uhrineves, Prague. These significant transactions have been concluded in cooperation with global property advisor DTZ and local management and accounting consultants ASB Prague.

As part of the ongoing active asset management of the fund, DHL Exel Supply Chain recently agreed to extend their lease at Pohorelice encorporating some 44,500 sq m of industrial and logistics accommodation. As part of the transaction CEIF has agreed to undertake significant capital works to assit DHL in their ongoing logistics contract. At Ivancice, DHL Exel Supply Chain agree to continue their occupation for a further 3 years at the 15,000 sq m industrial scheme. CEIF acquired both buildings in the winter of 2007 from DHL.

Valad/CEIF also achieved a success at industrial area at Uhrineves, Prague. The current tenant, European carrier of frozen goods Salm CZ-La Bretagne have agreed to lease additional space providing 3,000 sq m of specialised ambient warehousing. This is a contract extension in the spring 2009. As part of the transaction Salm CZ-La Bretagne have agreed to extend their lease by two years. This now makes Uhøínìves with the total area of 8,000 sq m fully occupied.

Harry Bunbury, Country Manager, Valad Czech Republic comments: „We continue with our local partners ASB Prague and DTZ Czech Republic to work with our tenants in these increasing challenging times to allow them to meet their business aspirations. We are clearly delighted to have secured DHL Exel Supply Chain on longer leases in Moravia as well as welcoming Salm CZ-La Bretagne into the final warehouse at Uhrineves. Our focus now, on behalf of the fund, is on trying to achieve similar agreements with our key tenants in our portfolio.“