La Poste sells six depots for EUR 129m
La Poste has raised €128.7m from the sale of six mail and parcel sorting depots to a property consortium.
The French postal group will generate net proceeds of €101m from the property sale, which will go towards its ongoing modernisation programme.
The consortium comprises La Poste’s property subsidiary Poste Immo, with a 22.4% holding, and seven institutional investors, including BNP Paribas Immobilier, Fortis Real Estate France and La Mutuelle Générale. The property disposal in a difficult market environment shows the confidence of investors in the postal group, La Poste said in a statement.
The French postal operator is in the process of valuing its real estate portfolio in a similar way to other European companies.
La Poste’s mail and parcel businesses will continue to use the six depots through long-term rental contracts, while Post Immo will manage the properties and any future modernisation work.
