AXIS logistics strategy

Leasing momentum continues

The Netherlands-based portfolio boasts an occupancy rate of 89%. AXIS has successfully completed a series of leasing, sustainability and asset enhancement initiatives that have reduced risk across the portfolio and strengthened long-term income visibility. Over the past 18 months, the platform has completed a range of lease renewals and new lettings with existing and new occupiers.

Notable transactions include:

• A new long-term lease signed with a leading international supply chain and fulfilment occupier, for 11,000 sqm of space in Zwolle.
• A new seven-year lease signed with Rema Hoisting & Lifting, for 5,400 sqm of space in the brand-new development asset in Maastricht – transaction secured on a pre-let basis with the asset undergoing a programme of value-creating renovations.
• Lease renewals with existing tenants secured for assets located in Waalwijk, Almere and Eindhoven, comprising 18,600 sqm of space – achieving a blended rental reversion rate of approximately 45%.

Active asset management delivering sustainability gains and additional returns

AXIS has set about improving the portfolio’s operational performance, energy efficiency and long-term competitiveness. As a result, all assets within the portfolio now hold EPC ratings of A or higher, with the portfolio averaging EPC A+++, one of the highest ratings that can be achieved.

Key achievements include:

• Comprehensive refurbishment and sustainability improvements at an asset in Almere – including the installation of smart building technology, upgraded climate control systems and an improvement in EPC performance from B to A+++, resulting in a BREEAM Very Good certification.
• A logistics development and office extension project at an asset in Maastricht, delivering modern logistics specifications, BREEAM Very Good certification, EPC A+++ performance and a fully electric operating model.
• Installation of highly efficient LED lighting and motion detection systems at an asset in Waalwijk.
• Portfolio wide implementation of smart metering infrastructure to monitor and report electricity, gas and water consumption.
• Deployment of 100% Dutch wind powered green energy contracts across all assets under direct operational control.

Simon Geldmann, Head of Germany & Benelux at Pictet Alternative Advisors, commented: “Over the past 24 months, we have successfully built a high quality logistics platform across the Netherlands, creating value through disciplined acquisitions, active asset management and strong leasing execution. Our leasing successes have materially de risked the portfolio, securing long term income streams with both existing and new tenants while validating our rental growth assumptions. The platform is now entering its next phase of growth and we remain highly confident in the long term fundamentals of the Dutch logistics market.”

Geert van den Boomen, Director Transactions Netherlands at Stoneweg, added: “The progress achieved across the portfolio demonstrates the benefits of a truly hands on investment and asset management approach. Beyond the leasing and operational achievements, we have worked closely with our financing partner to optimise the capital structure of the platform and unlock additional value for investors. Supported by a strong acquisition pipeline and attractive live opportunities across the Amsterdam, Rotterdam and Venlo regions, we see significant potential to further expand the portfolio while continuing to execute the technical value add strategy across our existing assets. The combination of disciplined acquisitions, active asset management and proactive capital management remains central to the AXIS investment philosophy.”