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Press pack DELIVERY OF THE LARGEST LOGISTICS HUB IN EUROPE FOR CONFORAMA IN TOURNAN-EN-BRIE (SEINE-ET-MARNE)

Thursday 27 June

2019

THE LARGEST BUILDING IN EUROPE!

Gazeley and Argan announce the delivery of the third and last phase of the177,500 sq. m logistics hub for Conforama in Tournan-en-Brie in the Seine-et-Marne department. The exceptional dimensions and capacities of thiswarehouse, on which work began in October 2017, make it the largest logisticsbuilding in Europe to date. The hub meets all the logistical needs of the furnitureretailer in northern France while optimising delivery times for stores and thee-commerce activity.

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Fabrice Cervoni, Managing

Director Southern Europe, Gazeley

We are proud to have worked with Argan to coordinatethe development of the largest logistics warehouse inFrance, not to mention Europe, proud to have beenchosen by Conforama and proud to have thecontinuing confidence of the Steinhoff

International Group, for which we have previouslydeveloped logistics projects in Europe. Thisdevelopment illustrates our ability to create very largeand high-quality logistics warehouses.

A timely and unusual partnershipIn 2017, Gazeley and Arganannounced the signing of anagreement with the SteinhoffInternational Group – Conforama’sparent company – for theconstruction of a logistics hub ofalmost 180,000 sq. m.The ambitious nature of the projectjustified a development partnership.Gazeley, one of the largest investorsand developers of logisticswarehouses and distribution centres,and Argan, the leading Frenchproperty company specialising in thedevelopment

and leasing of premium warehouses,therefore combined their availableland resources in order to offer aquality site tailored to the exceptionalsize of this project, representingmore than 33 hectares in Tournan-en-Brie, Seine-et-Marne.The two developers pooled theirexpertise and proactively designed agenuinely bespoke logistics projectset to become a long-termstakeholder in the Seine-et-Marnedepartment.

A strategic location

PARIS

TORCY

PONTAULT COMBAULT

BRIE-COMTE-ROBERT

MELUN

WAREHOUSE

DISNEYLAND RESORT PARIS

A6

A105

A4

A4

A5b

TORCYMARNE-LA-VALLÉE

A4

A3

A5

N4

N4

N104

N104

N

N36

N36

CRÉTEIL

N19

ROUTE DE FONTENAY

R U E D E V IL L E

R u e d e l ’ in d u s t r ie

D216

RUE

DES

A

RCS

R U E D E L ’ IN D U S T R IE

RU

E D

E LI

GO

RN

E

R U E DE

L AL I B É R A T IO N

R U E D U M A R É C H A L F O C H

R U E A L B E R T LE BRUN ROUTE DE COULOMMIERS FE

RM

E D

E C

OU

RCE

LL

ES

LE

CL

OS

EA

U

ROUTE DE FONTE

R U E G U S T A V E E IF F E L

RU

E A

UG

US

TE

PE

RD

ON

NE

T

ROUTE DE FONTENAY

D10

D453

D216

D216

MUNICIPAL STADIUM D10

D10

D216E

D216E

N4

N4

WAREHOUSE

The hub is located within the Terre Rougebusiness park in Tournan-en-Brie, adedicated and recognised logistics sector.The site benefits from a strategic position atthe heart of the major road arteries of theGreater Paris region: N4, A4, A5 and A6.The warehouse covers all of the logisticsneeds of the furniture retailer in the north ofFrance.

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48.734289, 2.788850

Jean-Claude Le Lan, Founding President,

Argan

Beyond real-estate performance- the development of the largest logisticsbuilding ever built in France – I willremember this adventure the ability of

two potentially competing companies to combine their forces. Argan and Gazeley demonstrated intelligence and pragmatism to successfully complete this project on an unprecedented scale. At Argan, we are open to partnerships and sharing, provided they create value.

Extraordinary capacities

TECHNICAL CHARACTERISTICSLand 33.3 hectaresBuilding 177,500 sq. mStructure Concrete posts

and glulam beamsHeadroom 12 mNumber of units 31Storage capacity 270,000 palletsLoading bays 187

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The logistics platform represents atotal floor area of 177,500 sq. mwith headroom of 12 m. Itcomprises

31 units capable of storing270,000 pallets. The building alsohas 187 loading bays.

The building has been modelledaccording to the user’s process andracking plan. This allowed us tooptimise the usable space and

create 31 units capable of storing three pallets per square metre! This volume of three pallets persquare metre is three times greater than the usual average in our sector.

Vincent Gourlin,Development Director,

GazeleyFrédéric Larroumets,

Development Director, Argan

The unusual partnershipbetween two pure playerlogistics developers, whocombined their expertise,

enabled this development which is completely extraordinary in terms of its size, the quality of its equipment and construction, its technicalinnovations and its environmental approach. Along with its partner,Argan thanks Conforama and its shareholderSteinhoff for selecting them for the turnkeydevelopment of this hub, optimised for their logisticsneeds in France.

Delivery in three phasesThe agreement related to an off-plansale (VEFA – vente en état futurd’achèvement). Construction of thebuilding was entrusted to the IDECgroup, with the objective of prioritisinglocal businesses. Work began inOctober 2017 for delivery in threestages: 63,000 sq. m in summer 2018,46,500 sq. m at the start of 2019 and

finally 68,000 sq. m in spring 2019.Each of the three phases was designedas an independent building, whichallowed both gradual ramp-up oflogistics activity and operationalflexibility through the independent useof each building. This ramp-up isconducive to supporting the growthin activity.

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Julien Millet, Construction Director,

Gazeley

At 800 m long and 250 mwide, with 31 units and threeoffice blocks, the exceptionaldimensions of this project

should be considered in terms of the deadlinesand three-stage delivery. Despite bad weatherover two consecutive winters, the deadlineswere met. Nearly 180,000 sq. m (the equivalentof 26 football pitches) built in justover a year – this project,designed and building usingBIM, is certainly a success!

A high environmental ambitionThe teams researched the best solutions toreduce operating costs and CO2 emissions andpromote energy and water savings – everythingwas done to minimise the building's impact on itsenvironment, such as locally-sourced plants, LEDlighting, eco-grazing established with a

a neighbouring farm and the possibility ofinstalling photovoltaic panels across the entireroof. These high environmental characteristicsmake it possible to aim for BREEAM Excellentcertification.

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Philippe Gallois, CEO, A26

Architectures

We are happy to have once again supported the Gazeley andArgan teams with this XXL project, from the initial design tothe building permit. Due to its exceptional size, this buildingis a showcase of Gazeley’s building design for logistics

warehouses, a building design that we helped establish a fewyears ago with the firm Gary Young. I would also like tohighlight the significant work done to integrate the buildinginto its landscaped environment.

KEY DATES OF THE PROJECT

OCTOBER 2016 JULY 2017 OCTOBER 2017 NOVEMBER 2017 AUGUST 2018 FEBRUARY 2019 JUNE 2019Signature of the off-plan

sales agreementBuilding permit obtained Launch of works First stone laid Phase 1 delivery (63,000 sq. m) Phase 2 delivery (46,500 sq. m) Phase 3 delivery

(68,000 sq. m)

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THE PARTNERSDevelopers: Architect: General contractor: Project ownership assistance: Environmental project ownership assistance:

Argan and GazeleyA26 Architectures IDEC GroupTop ManagementDauchez-Payet

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ABOUT

GAZELEYGazeley is a leading developer, investor and manager of European logisticswarehouses and distribution parks with a 1.7 million sq. m portfolio concentrated inthe strategic logistics markets of the UK, Germany, France, the Netherlands, Spain andItaly. In addition to its operating portfolio, which is 98% leased to blue-chip customerssuch as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allowsfor the development of an additional 1.5 million sq. m. Gazeley is GLP’s Europeplatform.www.gazeley.com

GLPGLP is the world’s leading provider of logistics solutions. Thanks to its network ofstrategically distributed assets and its partner ecosystem, GLP is able to offer largesurface areas and the latest hi-tech solutions that add value for its clients. GLP is oneof the world's largest real-estate fund managers, with more than US$64 billion inassets under management and a global portfolio of 73 million sq. m in eightcountries.www.glprop.com

ARGANArgan is the only French property company specialising in the development and leasingof premium warehouses listed on Euronext Paris. It is responsible for the developmentand maintenance of its own warehouses. Starting from nothing in 2000, its portfolio isvalued €1.4 billion at the end of 2018 and represents a surface area of more than1.6 million sq. m spread over approximately 60 warehouses located throughout Franceand in all shapes and sizes, 100,000 sq. m XXLs to the smallest at 10,000 sq. m. Thewarehouse portfolio is now 100% leased to clients covering a broad spectrum of sizes andactivities, including large multinationals such as L'Oréal, DHL and BMW, as well asregional SMEs. Argan is listed on compartment B of Euronext Paris (ISINFR0010481960– ARG) and is included in the CAC All-Share and IEIF SIIC France indices. The propertycompany chose to becomea SIIC (listed real-estate investment company) from 1 July2007.www.argan.fr

A26Founded in 2012, A26 Architectures has 182 employees, including 130 architects and 18engineers, located in Paris, Lyon, Bordeaux, Rouen, Blois and Puget-sur-Argens for thesouth-east. A26 offers skills to enhance the architectural and urban quality of projects.A26’s ambition is to offer clients an extensive range of skills grouped together within asingle entity: urban development, housing, health, education, corporate real estate andtertiary and logistics buildings, public facilities, hotels and residences, viticultural facilities,shops, interior architecture, space planning, etc. The acquisition of Daniel NuretArchitectes and DRD Architecture has expanded A26’s field of expertise in thelaboratories, research and energy sectors as well as aquatic centres and casinos. A26’spartners share the same vision of their professional practices and the same view of theworld around them.www.a26.eu

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PRESS CONTACT

GazeleyCaroline FerlandeGroup Marketing Manager

caroline.ferlande@gazeley.com+33 1 44 43 49 50

ARGANFrancis AlbertinelliFinancial director

francis.albertinelli@argan.fr+33 1 47 47 05 46