ADAX in Lithuania

2 INDUSTRIAL BUILDINGS IN PANEVEZYS, LITHUANIA

Teaser Realtum Advisors September 2020

HIGHLIGHTS

RELIABLE TENANT

ADAX today is the market leader in Norway as well as in many parts of the Nordic countries. Moreover, ADAX have large export arrangements to a number of countries in Europe and worldwide.

All production of ADAX is manufactured solely on Panevezys.

LONG TERM, GUARANTEED LEASE

Both buildings weighted average unexpired lease term is 16.5 year. The full lease period is guaranteed by the Norwegian industrial concern, the Ottelei Group.

HEALTHY RENT PRICE

The average monthly rental price of both buildings is 3.31 Eur / sq.m, which makes the object safe and sustainable in the long run. The rent price will be indexed annually and the cost coverage is Triple Net.

EXCELLENT BUILDINGS CONDITION

The buildings are well maintained. The main structural elements and engineering installations of the buildings are in very good condition.

WELL MAINTAINED BUILDINGS 2

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PROPERTY NO. 1

PROPERTY NO. 2

KEY DETAILS Address

KEY DETAILS Ramygalos str. 194E, Panevezys, Lithuania

Address

Land plot area

3.8104 ha

Land plot area

Land plot ownership

Freehold

Land plot ownership

Total building area

10 410 sqm

Total building area

Ramygalos str. 190E, Panevezys, Lithuania 3.5166 ha Freehold 9 715 sqm

Construction year

2007

Construction year

2008

Occupancy

100%

Occupancy

100%

Tenant from 2022-05-09

Adax UAB

Tenant

Adax UAB

WAULT

16.5 years

WAULT

16.5 years

Early break clause Lease guarantee Rent price Cost coverage Indexation 2020 NOI From 2022-05-09 NOI

No Parent company guarantee 3.20 Eur/sqm/month Triple Net Lithuanian CPI with 3.50% cap 805 414 Eur 400 000 Eur

Early break clause Lease guarantee Rent price Cost coverage Indexation 2020 NOI

No Parent company guarantee 3.43 Eur/sqm/month Triple Net Lithuanian CPI with 3.50% cap 400 000 Eur

TENANTS

PROPERTY NO. 2 TENANT PROPERTY NO. 1 TENANT FROM 2022-05

ADAX was founded in 1948 and is 100% owned by the Norwegian industrial concern, the Ottelei Group.

Heating equipment development and marketing – main objectives of the company. The company has a diverse workforce and currently has more than 200 employees within two companies: ADAX AS in Selvik, Norway and UAB ADAX in Panevėžys, Lithuania.

ADAX manufactures household and commercial electric heating products under exclusive brands ADAX, GLAMOX heating and NOREL within the contemporary design and advanced control systems, as well as fan heaters, portable heaters, shoe dryers and drying racks.

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PROPERTY NO. 1 TENANT UNTIL 2022-05-08

ADAX emphasizes on good design, ecofriendly materials, user-friendly technology that contributes to energy efficiency. Due to continuous development and innovation, today ADAX is a market leader in Norway as well as in many parts of other Nordic countries.

Moreover, ADAX have large export arrangements to a number of countries in Europe and worldwide.

AQ WIRING SISTEMS is a manufacturer of cable ties and electromechanical systems, which is part of the global AQ Group.

Adax UAB was established in Panevezys in 2002.

AQ Group was founded as Aros Quality Group in 1994 through the merger of Aros Kvalitetsplast AB, the transformer division of ABB Industrial Systems and the accessories section of ABB Relays.

AQ Wiring Systems UAB was established in Panevezys in 2001. During this period, the company became one of the largest employers in the region and the team grew to over 730 employees.

AQ has about 6300 employees in Sweden, Bulgaria, China, Estonia, Finland, India, Italy, Lithuania, Mexico, Poland, Hungary, Serbia, Canada, USA, Brazil and Germany.

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PHOTO GALLERY

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MACRO LOCATION

The Properties are located in Panevėžys, the fifth largest city in Lithuania. According to data for 2019 from the Lithuanian Department of Statistics, the population of Panevėžys is 87.139.

The distance to nearby major cities is as follows: 150 km to Vilnius, 113 km to Kaunas, 232 km to Klaipėda, and 150 km to Riga. Panevėžys is located in the north of the country on the banks of the river Nevėžis.

MICRO LOCATION

The city is in a favorable geographical location at the junction of the two major Lithuanian motorways and along the portion of the international motorway VIA BALTICA that runs between Vilnius, Lithuania and Riga, Latvia, the capitals of two countries in the Baltic region. There is a major railway and two airports used for local needs.

The Properties are located in the industrial area of Panevėžys (in the southern part of the city), close to one of the main routes through Panevėžys— Ramygalos Street (a part of the A2 motorway between Vilnius and Riga). The distance from the properties to Ramygalos Street is about 150 m.

Ramygalos Street goes from the city centre to the exit from Panevėžys in the direction of Vilnius and Kaunas and the Panevėžys bypass.

In terms of city zoning, the properties are located in commercial-industrial territory where construction of industrial and commercial buildings is potentially possible.

Riga

Siauliai

Vilnius

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ABOUT PANEVEŽYS REGION

Source: https://www.pfez.lt

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MAIN INDUSTRIES IN PANEVEZYS

Source: https://www.pfez.lt

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CONTACT

Linas Butkus, MRICS

Realtum Advisors UAB

CEO

Business Centre "Green Hall 2"

Mobile +370 690 01100

Upes str. 23, Vilnius,

linas@realtum.lt

Lithuania

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