Den Hoorn, Netherlands, warehouse purchased for €49.9 million
The Company was pleased to announce in January 2020 that it had completed the acquisition of a logistics warehouse in Den Hoorn, the Netherlands, for a net value of €49.9 million, providing a net initial yield of 4.5%.
This is a newly built warehouse on a perpetual leasehold with the option to purchase the freehold from the local municipality. Built to a modern specification, it is a quality warehouse providing office and mezzanine space of over 43,000 square metres.
The warehouse has an attractive income profile and is wholly leased to logistics operator A.G. van der Helm Vastgoed Moerdijk B.V. as its headquarters on a ten year CPI indexed lease.
The warehouse is located centrally within the Randstad region, the most densely populated area in the Netherlands, close to both the Hague and Rotterdam with access to the A4 connecting Den Hoorn with the port of Rotterdam and Schiphol airport. Thanks to its urban location, the site has attracted strong demand from other third-party logistics and 'last-mile' delivery operators such as PostNL and DHL.
This brand new grade A building is located on the Harnaschpolder business park and provides clear eaves to 12.2 metres with 36 loading docks. The heat pump VRF-cooling system, heat recovery and sprinkler system together with LED lighting and solar roof panels add sustainable credentials to the investment.