MERLIN Properties Annual Report 2018 / English

ı 37 ı Annual Report 20 18 Acquisition of Toledo-Seseña Land plot for the development of a 28,541 sqm warehouse in the A-4 corridor, in an area with a clear deficit of modern logistics space suitable for 3PL operators. The plot is located 36 kms from Madrid city centre, in Toledo-Seseña, in a very convenient location for the distribution of goods from Madrid to the south of Spain. TOLEDO-SESEÑA G.L.A. (sqm) 28,541 Acquisition price (1) (€ thousand) 3,979 Estimated Capex (€ thousand) 11,251 Total cost (€ thousand) 15,230 ERV (€ thousand) 1,159 ERV yield (2) 7.6% Delivery date 3Q 2019 (1) Excluding transaction costs (2) Calculated as ERV divided by acquisition price plus estimated Capex