Ganly Walters has now advised CHC on four separate investments in Germany as well as the two in France over the past 12 months, totalling Euro171 million.

The French properties, located in Marseille and valued at Euro55 million, are CHC's first acquisitions in that country. The Plein Quest and Le Patio office buildings were acquired from Bouygues Immobilier, one of France's largest developers. The buildings are forward funding opportunities, with completion due in 2008 and 2009 respectively.

Plein Quest, sited in the 16th District of Marseille, is a single four-storey building. It extends to approximately 11,072sq m of office space, but can also be separated into two or three independent buildings. The development will include 290 parking spaces.

Le Patio, a city centre development located in the 10th district of Marseilles, is a single eight-storey building with about 8,920 sq m of office space and 94 car park spaces.

Ganly Walters, together with their affiliates, international commercial property consultants King Sturge, advised CHC on the deals.

"The well-located forwardfunding opportunities available in these localities maximise returns and present lower operating costs, which has meant that many businesses are relocating in these southern regions, " says Paul McDowell, head of investment and managing director of Ganly Walters.

The German acquisitions are at Hamburg and Stuttgart, both locations where CHC purchased investment property advised by Ganly Walters previously.

The first of these is a sevenstorey office building at Heidenkampssweg, acquired for Euro34m with a net yield of 6.04%. Built about 11 years ago, it extends to 10,465 sq m and has a sole tenant with a new 12-year lease.

Purchased for Euro32.5 million, the second property in Stuttgart is a new office block, the Colorado Building.

An 18-storey tower, this trophy building with black glass façade and 10,945 sq m office space, is multi-let, with 75% occupied and the remaining 25% on a five-year rental guarantee. The property has a 5.75% net initial yield.

Ian McKee, investment surveyor at Ganly Walters, who handled the German transactions, says "the strengthening of the German economy makes property investment in Germany an attractive investment".

Harry Cassidy, chief executive of CHC, says "these properties represent good investment opportunities for our clients and underlines CHC's ability and desire to source high quality investments in two excellent European markets".