Latest news with #warehouse
Yahoo
an hour ago
- Business
- Yahoo
EQT Real Estate acquires a five-building logistics portfolio across three locations in Southern France
Acquisition of five logistics assets totaling approximately 148,000 square meters Let to nine tenants, this highly reversionary portfolio has a weighted average remaining lease term to break of less than two years With this transaction, EQT Real Estate will meaningfully increase its exposure to the core Southeast and Southwest France logistics markets STOCKHOLM, June 2, 2025 /PRNewswire/ -- EQT Real Estate is pleased to announce that EQT Exeter Logistics Value Fund IV has acquired a best-in-class logistics portfolio of five warehouses. The portfolio of big-box assets totals approximately 148,000 square meters and are located in the key Southern France submarkets of Avignon and Toulouse. The warehouses' respective locations offer proximate access to core population centres via key motorways, including the A20 and the A7 which provide connectivity to Marseille and Lyon. The properties feature Grade A technical specifications, including eaves heights averaging over ten meters, as well as ample loading and maneuvering features. The portfolio benefits from a strong, global diversified tenant base and is well-suited to meet the growing needs of today's modern logistics users. This acquisition strengthens EQT Real Estate's exposure to core Southern France submarkets, which are structurally undersupplied and continue to experience resilient demand. These are highly desirable occupier markets benefiting from the excellent connectivity which supports supply chains along the Atlantic and Mediterranean coasts. John Toukatly, Partner, Chief Investment Officer, European Logistics at EQT Real Estate, said: "We are excited to add these top-tier logistics properties to our portfolio. Situated in supply-constrained markets, these assets are highly attractive to a wide range of major big-box tenants and are well aligned with EQT Real Estate's strategy of acquiring modern, high-potential logistics properties in underserved areas across Europe. With our operational and asset management capabilities, we intend to further enhance the value of this high-quality portfolio." EQT Real Estate was advised by PwC (financial and tax), Gide and GMH Notaires (legal and notarial), CBRE (commercial), Tauw (environmental), AMF (ICPE and PM) and Gleeds (technical and ESG). ContactEQT Press Office, press@ This information was brought to you by Cision The following files are available for download: Press Release_EQT Real Estate acquires a five-building logistics portfolio across three locations in Southern France_02062025 Picture View original content: Sign in to access your portfolio
Daily Mail
11 hours ago
- Business
- Daily Mail
Why isn't 8% of my salary going into my pension like it's meant to? STEVE WEBB replies
At my place of work, a big retail chain, the agreement for workplace pension contributions is 8 per cent, including 4 per cent from the employee. I work in the warehouse as a warehouse operator (not management). When I questioned HR on why 4 per cent of my wage was not being taken out, I was informed that there is a £480 (per 4 weeks) threshold and that the pension contributions start after this £480. Whenever I read up on work place pension contributions, I see it stated about the minimum 8 per cent but in reality this not correct, due to this threshold figure. My questions are: why is 8 per cent given as a minimum, and why and when did the £480 threshold come into effect? Steve Webb replies: The often-quoted figure of 8 per cent minimum workplace pension contributions is, as you rightly say, not quite what it seems. I'm happy to explain what is going on, why it was set up in this way and how it might change in future. To understand what is going on, it's worth going back to basics about what pensions are trying to achieve. One of the main reasons why we have a pension system is to help ensure that people's standard of living does not drop sharply when they no longer have a wage. To achieve this, we often talk about a target, for people on modest incomes, of securing around two thirds of pre-retirement income once you stop working. People should not need 100 per cent of their pre-retirement income because they typically no longer have 'working age' costs such as mortgage, travel-to-work or childcare costs, and also no longer pay National Insurance on their income. But a target of around two thirds would enable most people to enjoy a similar standard of living when retired to the standard they were used to when in work. The next thing is to look at how much of this will come from the state pension. As a very rough benchmark, the new state pension will replace a little under one third of the average worker's wage. This means that they need a similar amount from a private pension to bring them up to the two thirds target. When automatic enrolment was being designed, it was assumed that the first slice of earnings was fully replaced by the state pension and that what was needed on top of this was a percentage of the 'next slice' of earnings. For this reason, when the law was written to require workers and firms to make pension contributions at a set percentage rate, this percentage was applied to earnings above a floor, currently £6,240 per year. Earnings above this level (up to a ceiling of £50,270) are described as 'qualifying earnings', and the mandatory 5 per cent from the employee (or 4 per cent net of tax relief) and 3 per cent from the employer are applied to this band. I should stress that we are talking here about the legal minimum rates of contribution and that many employers and workers do more than this, including some who apply contributions from the first pound of earnings, not just on 'qualifying' earnings. Over time there has been growing concern over this system, particularly because of the impact on lower earners. To give an example, for someone who works part-time and earns (say) £12,480 – double the floor for qualifying earnings- the mandatory pension saving rate is applied to just half of their wage. By contrast someone working full time on £31,200 – five times the floor – is making contributions based on four fifths of their total wage. In response to this, a Government review of automatic enrolment published back in 2017 recommended that the starting point for contributions should be reduced to zero, so that the 8 per cent headline figure would apply to all earnings up to the ceiling, currently £50,270. Despite the general consensus about this recommendation, nothing has so far changed. In the last parliament a law was passed which paves the way for this change, but it has yet to be implemented. Unfortunately, it seems that progress on this front is probably now further away than it has ever been. The reason for this is that any widening of the band of 'qualifying earnings' would cost both workers and employers more. With concerns over an ongoing 'cost of living' crisis for many lower paid workers, and with a very substantial increase in employer National Insurance in the Autumn 2024 Budget, there is very little appetite in Government for further measures that would hit paypackets or employer costs. In short, therefore, although we urgently need to get more money going into pensions, the chances of reform any time soon look very small. The one glimmer of hope is that the Government is expected shortly to announce the second phase of its major review of pensions, and this will include the adequacy of existing pension saving rates. It is possible that such a review will eventually (again) recommend applying mandatory contributions to the first pound of earnings, not just those above a floor. But, even if it did so, I suspect that the implementation process would be protracted and could even fall outside the current parliament. Ask Steve Webb a pension question Former pensions minister Steve Webb is This Is Money's agony uncle. He is ready to answer your questions, whether you are still saving, in the process of stopping work, or juggling your finances in retirement. Steve left the Department for Work and Pensions after the May 2015 election. He is now a partner at actuary and consulting firm Lane Clark & Peacock. If you would like to ask Steve a question about pensions, please email him at pensionquestions@ Steve will do his best to reply to your message in a forthcoming column, but he won't be able to answer everyone or correspond privately with readers. Nothing in his replies constitutes regulated financial advice. Published questions are sometimes edited for brevity or other reasons. Please include a daytime contact number with your message - this will be kept confidential and not used for marketing purposes. If Steve is unable to answer your question, you can also contact MoneyHelper, a Government-backed organisation which gives free assistance on pensions to the public. It can be found here and its number is 0800 011 3797.
CBS News
12 hours ago
- Climate
- CBS News
Large fire burning at warehouse in Camden, New Jersey
A large fire is burning at a warehouse in Camden, New Jersey, on Sunday. Crews are battling the fire at 17th and Carman streets. It started at around 3 p.m. in a one-story garage, and then spread to a four-story warehouse, according to a Camden County spokesperson. Multiple NJ Transit bus routes, including the 404, 405, 406 and 407, will be on a detour due to the fire department working to put out the blaze. Fire officials are asking people to avoid the area. No injuries have been reported due to the fire. Smoke from the fire could be seen from Citizens Bank Park in South Philly as the Phillies played the Milwaukee Brewers. The cause of the fire is under investigation. This is a developing story and will be updated.
CTV News
3 days ago
- Business
- CTV News
U.S. inflation gauge cools with little sign of tariff impact, so far
A shopper surveys goods on display in a Costco warehouse Wednesday, May 21, 2025, in Lone Tree, Colo. (AP Photo/David Zalubowski)
Irish Times
5 days ago
- Business
- Irish Times
Dublin Airport Business Park logistics unit seeks occupier
Palm Logistics is seeking an occupier for a detached logistics facility at Dublin Airport Business Park. Unit D1, available for let through joint agents Cushman & Wakefield and Savills, extends to 8,592sq m (92,483sq ft) and comes with 30 dock levellers and two grade-level roller shutter doors that open on to a 34m-deep yard. The warehouse has a clear internal height of 9m throughout and is equipped with high-bay LED lighting. The property will be available for immediate occupancy in the final quarter of this year following an extensive refurbishment programme. The works, which are now nearing completion, include the installation of onsite renewable energy generation through PV panels on the roof, a new air-to-water heat-pump system and the addition of new EV-charging stations to complement the 60 car-parking spaces on site. Palm is also undertaking a full redecoration of the unit's two-storey office accommodation. This is being finished in an open-plan format with a Cat A fit-out, ready for occupier customisation. In terms of its sustainability, Unit D1 is targeting a minimum Ber rating of A3. Dublin Airport Business Park is a fully serviced industrial park with direct access to junction 2 on the M1 motorway. The scheme is also just minutes away from junction 3 on the M50 and within easy reach of Dublin Tunnel and the wider motorway and national road network. READ MORE Letting agents Cushman & Wakefield and Savills say: 'This property offers occupiers the opportunity to secure a newly refurbished, premium facility in a prime location adjacent to Dublin Airport.'
