Belgium's Intervest Offices & Warehouses has acquired a 73,000 m2 logistics project in the Belgian port of Zeebrugge from a Chinese consortium for around €78 mln.
The deal sees the Belgian-listed real estate company acquire 100% of the shares of the Lingang Overseas Zeebrugge Modern Industrial Park Development Company, gaining access to 15 ha of land in the Maritime Logistic Zone (MLZ).
The new project will consist of storage space, a container yard, a central office building and a spacious parking area for trailers and cars.
Gunther Gielen, CEO Intervest Offices & Warehouses commented: 'This project fits into our #connect2022 strategic plan to create client-centric, sustainable value with our in-house team. With our experience in multi-modal sites such as Genk Green Logistics, we are a party with a certain expertise to tackle such projects.'
In terms of sustainability, the logistic and office space will be brought up to BREEAM 'Excellent' standards, including a PV-installation on the roof that will provide heating without the use of gas.
Intervest, with its in-house #TeamIntervest, will be responsible for further development of the site, with a target completion date of September 2022.
Three of the 10 units have already been pre-let and talks are underway with other interested parties for the remaining units.
Thanks to the strong growth in container traffic in recent years, the Zeebrugge port area is seen as a strategic asset in Intervest's real estate portfolio.
Intervest was advised by Eversheds-Sutherland and Deloitte, while the Lingang Overseas Zeebrugge Modern Industrial Park Development Company was advised by CBRE, PwC, Bird & Bird and DALDEWOLF.
