Acquisition of logistics asset in Ede, Netherlands for €26.5 million
The Company signed an agreement to acquire this freehold logistics warehouse in Ede in the Netherlands for a net value of €26.5 million from David Hart Group. A fully CPI-indexed lease was signed with Dutch retail and pharmacy operator Kruidvat (part of the A S Watson Group) which commenced on 1 August 2018 for a period of 10 years (with no break option). A large part of the warehouse is to be used to expand the company’s growing e-commerce business.
Ede is centrally located in the Netherlands and well positioned for national distribution. The property is located on the Heestereng Business Park, a large mixed use site encompassing logistics, wholesale and production companies. Examples of Third Party Logistics or 3PL operators located there are DB Schenker, Van de Hoef Logistiek and Alon Logistiek. The site offers good road access being located alongside the A12 (Rotterdam – Germany) and the A30 to the north.
The property itself, which had recently undergone improvement works, has a total area of 39,840 square metres comprising warehouse and mezzanine space and an office building with 90 dedicated parking spaces. Specifications are very modern with eaves height of 12.2 meters, 18 docks and 5 ground level doors. The warehouse separately has 200 parking places on site together with extensive trailer parking.