20 March 2018 – Eje Prime
Merlin is incorporating new land into its portfolio. The Socimi has purchased a plot measuring 43,000 m2 in Seseña, Toledo, where it is going to build a logistics platform with a total constructed surface area of 28,408 m2. Construction work at the site is due to start within the next few weeks, with the aim of making the property available within a year, during the first quarter of 2019.
The constructed surface area will be dividable into four separate spaces. Two of them will have a total surface area of 7,026 m2 each, with 13 loading bays, 6,636 m2 for warehouse use and 390 m2 for offices.
Similarly, another module will have a total surface area of 4,816 m2, of which 4,426 m2 will be for warehouse use with seven loading bays and 390 m2 for offices.
Finally, the largest space of the four will measure 9,540 m2, with a warehouse spanning 9,150 m2 and 17 loading bays, with the same amount of office space as the others, in other words, 390 m2.
The Socimi closed 2017 with a net profit of €1.1 billion, up by 88.8% compared to 2016. Its real estate portfolio appreciated in value to reach more than €11.3 billion, with an increase of more than 10% in comparable terms with respect to 2016.
The revenues of the group led by Ismael Clemente also grew last year. Merlin recorded revenues from rental income of €484.3 million, up by 29.3% compared to the previous year, when the group’s turnover amounted to €362.8 million.
Original story: Eje Prime
Translation: Carmel Drake
Source:: AURA Real Estate Experts