Verdion acquires first Netherlands asset with €17m last mile logistics deal

12/05/2020

Verdion has acquired its first asset in the Netherlands as part of a €300 million investment programme focussed on last mile opportunities in Northern Europe.

The company has acquired a 24,000 sq m warehouse in Roosendaal on the Dutch-Belgian border for €17 million in an off-market deal. Located in an established logistics area between Rotterdam and Antwerp the building includes 18,000 sq m let to specialist logistics company Imperial Group, together with further space for occupation and an adjacent land plot with permission for a further 10,000 sq m of new build warehouse space.

The deal follows on from Verdion’s first investment in the Czech Republic, with the completion of a €17 million forward funding of a major project for UPS in Prague, consolidating three of the company’s fulfilment centres to create a 13,600 sq m national HQ and logistics hub on land adjacent to the City Airport.

Other acquisitions include a 21,000 sq m property in Gallin, east of Hamburg, with 10,500 sq m let to DB Schenker on a 5-year lease with the remainder let to the same business shorter term. The property has capacity for a further 10,500 sq m of additional logistics space, which is under offer to a major grocery-related group with a planned construction programme aimed at a 2021 handover.

Also in Germany, Verdion has acquired a 10,000 sq m logistics building the Lower Rhine region town of Nettetal. Under a three-year sale and leaseback deal with French logistics firm Egetra, the property is ideally situated for last mile logistics occupiers with potential for an additional 6,000 sq m of new development.

Simon Walter, Director of Asset Management at Verdion, said: “Alongside our built to suit and logistics park activity, last mile logistics is an important investment focus for Verdion.  Online retail has never been more important, and this trend is set to continue for the long term.

“These investments, around €70 million in total so far, demonstrate our commitment to this market sector. We are particularly pleased to complete our first deal in the Netherlands: a key target alongside Germany and the Nordics. We will be deploying further capital in the coming months – investing where we can best leverage our development expertise and focus on technical innovation.”