Re Joint Venture

RNS Number : 8452U

Helical Bar PLC

22 October 2010

 



22 October 2010

Helical Bar plc ("Helical Bar")

Helical Bar and Thameling Group create JOINT VENTURE to develop Central European logistics properties

Helical Bar and Thameling Group announce the creation of a joint venture (the "JV") to develop pre-let warehouse and distribution properties in Central Europe.  The joint venture will focus on strategic sites in Poland, the Czech Republic and Slovakia.  Thameling Group will source and develop sites close to major road infrastructure hubs and airports, with Helical Bar providing development finance alongside senior bank finance.  The JV's initial spending capacity will be circa €50 million. Completed assets are expected to be forward sold to the open market.

The joint venture aims to take advantage of the opportunities presented by the decline of land and construction costs in the region.  It will provide build-to-suit small and medium size units up to 10,000 sqm within a park environment, together with larger standalone facilities.

Thameling Group co-founding partners Hans van Luijken and Piotr Michalski, formerly joint managing directors of Parkridge CE Developments and Prologis, have a strong track record in the sector. Over the last decade, they have developed, leased and delivered over 1.3 million sqm of warehouse and industrial accommodation and built a land bank of 680 hectares with a development potential of 2.7 million sqm.

International Property Consultants King Sturge introduced Thameling Group to Helical Bar and advised on the joint venture structure.

Mike Slade, Chief Executive of Helical Bar, commented:

"Helical Bar has already established a strong track record of investment and development in Poland through its retail joint venture, Helical Poland, and we are extremely excited to be expanding further our presence in the region through another specialist joint venture.  We are delighted to have teamed up with Thameling, whose expertise and knowledge of the warehouse and distribution market in Central and Eastern Europe is unrivalled.  In a market starved of quality institutional product, now is the time to be working up major development opportunities that will deliver strong risk adjusted returns to our shareholders."

Hans van Luijken, co-founder of Thameling Group, said:

"Our track record of developing and investing in core industrial locations through Europe will be particularly valuable as the economy begins to improve. Helical Bar will play a decisive role in the growth of the joint venture and we are confident that we will be able to procure significant and value creating development deals over the coming years."

- ENDS -

For further information, please contact:

Helical Bar Mike Slade / Gerald Kaye Tel: [phone]	Financial Dynamics Stephanie Highett / Dido Laurimore / Laurence Jones Tel: [phone]
Thameling Group Hans van Luijken Tel: [phone] Alan Stainforth Tel: [phone]

Notes to Editor:

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King Sturge is one of the largest international property consultancies in Europe with 42 owned offices in 14 European countries, forming part of a network of over 215 wholly owned, associated and affiliated offices in 47 countries worldwide. Over 3,800 staff throughout these offices cover all property sectors and specialisms including plant and machinery, and residential.

In Europe, King Sturge operates in the major UK commercial centres and principal mainland European cities.  In Asia Pacific, the firm has associations in Australia, Indonesia, Malaysia and New Zealand. In the Americas, King Sturge has business partners in North, Central and South America through King Sturge CORFAC International and ChainLinks Retail Advisors.

Through a joint venture with a wealth manager, King Sturge now has a presence in the Middle East. The office will initially be based in Dubai, concentrating on states in the Gulf Corporation Council: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

For further information please contact:

Philip Marsden, Partner, Investment                                                         [phone]

[e-mail]                                                              [phone]

Matthew Connor, Partner, Investment                                                       [phone]

[e-mail]                                                            [phone]

Richard Stacey, Senior Surveyor, Investment                                            [phone]

[e-mail]                                                              [phone]

Régis Jacquemin, Corporate Communications Manager                             [phone]

[e-mail]                                                            [phone]

 

END

 

 

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