EfTEN Kinnisvarafond news
EfTEN Real Estate Fund finalised the extension of DHL logistics centre
Today, on May 13, EfTEN Real Estate Fund and DHL will open the new extension to the DHL Estonia AS logistics centre in Tallinn. The extension increases the total area of the logistics centre by additional 3 600 square metres, now covering a total of 10 700 square metres. Building the extension was part of the terms of the acquisition of property by EfTEN, which was finalised last summer.
According to Viljar Arakas, CEO of EfTEN Capital and EfTEN Real Estate Fund’s fund manager, the logistics centre property is an important asset to EfTEN’s logistics real estate portfolio. “Betooni street in Tallinn is a great location for the transportation and logistics business. The extension of the DHL logistics building will add further value to our investment,” said Arakas .
Mati Kärt, DHL Estonia AS board member and CEO of Freight business unit, said the extension will address their clients’ needs for quality storage space and increase quality of service as well as efficiency. „This extension enables us to move DHL’s storage operations from our four current locations to two locations at Betooni street on a total of 20 000 square metres,“ Kärt added.
Construction works of the extension were completed on April 9, 2015, when 3 600 square metres of additional rentable space at Betooni 1A was granted for use to the lessee – DHL Estonia AS. The 3 600 square metres of the extension includes 3 400 square metres of storage space as well as additional 200 square meters of office space, new service rooms and a leisure area.
The extension of the logistics centre increased storage space capacity by 8 000 pallets. Along with the terminal and additional storage space built in 2008, the logistic centre complete with 35 loading bridges can now hold up to 15 000 pallets. The long-term lessee of logistics centre is DHL Estonia AS Freight business unit, a company whose main business is road and railway transport and other logistics services.
Construction was completed by Eventus Ehitus, project was designed by Piko Projekt and construction supervisor and advisor to the client in construction issues was OÜ Conviso.