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Terminal Brovary

Kiev, Ukraine

Type of Project: Industrial / Logistics

SECURE Management, Asset Manager
Investor: SPDI

The Brovary Logistic Park consists of a 49,180 sqm GLA Class A warehouse and associated office space. The building has large facades to the Brovary ring road, at the intersection of the Brovary (Е-95/М-01 highway) and Borispol ring roads. It is located 10 km from the Kiev city border and 5 km from Borispol international airport.

The building is divided into six independent sections (each at least 6,400 sqm), with internal clear ceiling of 12m height and industrial flooring constructed with an anti–dust overlay quartz finish. The terminal accommodates 90 parking spaces for cars and trucks, as well as 24 hour security.

Upon undertaking management, SECURE succeeded to finish construction and fully rent the warehousing space at a 50% higher rent by the end of 2012. Following Ukraine’s revolution and the collapse of the Hrivnia exchange rate (dropped by 90% within 2014), active management was exercised in tandem with its tenant partners, ensuring that Terminal Brovary lost only some of its tenants and was fully let again by April 2016.  In 2017 the asset was sold at a Gross Asset Value of over US$16 million (before the deduction of the outstanding EBRD loan). This compares favorably to the US$13.4 million gross value assigned to the Terminal as at 31 December 2015 and generated a net profit of over US$2.5 million net to Investor  and a net cash inflow of over US$3 million. One of the few large property transactions in Kiev during that volatile political period.

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