Lettings success for Internos in Germany and the Netherlands

Internos Real Investors LLP, the €1.5 billion owner-managed real estate fund management business, announces that it has achieved considerable success in new lettings and lease renewals across its five funds and two separate account mandates in Germany and The Netherlands, over the six months period to 30 June 2010.

In Germany, where Internos manages a total of 489,600sqm (1,351,000 sqm prior to the sale of the HBI portfolio in April 2010), it has achieved new lettings of some 84,600 sqm of warehouse, office and retail space with an annualised rental value of €3.65 million. It has also achieved 190,700 sqm of lease renewals with an annualised rent value of €9.33million.

In The Netherlands, where Internos manages a total of 920,900 sqm it has achieved new lettings of 66,750 sqm with an annualised rental value of €5.22million. It has also achieved 44,300 sqm of lease renewals with an annualised rental value of €2.21million.

Tenants include EDEKA Group, Lidl, Netto, REWE Group, and TAKKO Fashion.

Matt Walker, Head of Fund Management at Internos commented: “The lettings markets in these countries are tough, but this first half active asset management performance shows the benefit of having local teams with specialist knowledge and skills in each country.”

source : Internos Real Investors LLP