Frasers Property Industrial, the logistics-focused arm of the Singapore-listed investor, has acquired a 10 ha site in the Netherlands to develop a large-scale logistics campus.
Financial details were not disclosed.
The 98,758 m2 plot is located between Lageweg and Nieuwe Kadijk in Breda, and will be developed in collaboration with Roozen van Hoppe, the vendor of the site.
A scheme dubbed CityLog Campus Breda will be developed at the location, comprising two distribution centres with a total lettable floor area of approximately 50,000 m2.
The warehouses have a target completion of 2022 and are being built on a speculative basis. Bridgegap and JLL are the letting agents.
Frasers Property Industrial said it was striving to obtain a BREEAM-NL 'Very Good' certification or higher.
Alexander Heubes, managing director Europe Frasers Property Industrial said: 'With the current high demand for warehouse space in Europe, this was strategically the perfect time to acquire this 10 hectare site and expand our presence in the Netherlands to launch CityLog Campus Breda and welcome customers to its sustainably designed, well-located and flexible logistics facilities.'
Hendrik Roozen, CEO Roozen van Hoppe, added: 'As a developer and builder of logistics parks and buildings in the Netherlands, we are delighted to be working together with a renowned party such as Frasers Property Industrial at this very well-located site in Breda.'
Frasers Property Industrial was advised on the transaction by CVO (technology and environment) and Loyens & Loeff (legal and tax).
