Clarion Partners Europe has bought a €43m warehouse in Rotterdam, in the Netherlands on behalf of one of its funds.
Clarion said it has bought the 22,524sqm logistics facility located in the De Dijk business park in Maassluis from an undisclosed seller. The fully-let property was complete last year.
Rory Buck, managing director at Clarion Partners Europe, said: “This is a land-constrained logistics location in close proximity to Europe’s largest port, likely to benefit from significant future rental growth.
“At the same time, the attractive day one income profile and criticality of the property for the occupier is strongly aligned with our wider strategy. The investment case for logistics in the Netherlands remains highly compelling, underpinned by improving global trade, Brexit and rapid e-commerce acceleration.”
Clarion was advised by Savills on commercial, Houthoff on legal and CBRE on technical.
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