Belgian real estate company Intervest Offices & Warehouses has made a strategic investment in the logistics sector by acquiring a site in Liège.
The deal sees Intervest taking over control of the company ILWS, owner of the logistics site in Herstal, in two phases.
Initially, Intervest has purchased 74.35% of ILWS, which will be financed by a non-cash contribution and debt capital. The remaining 25.65% will be executed in 2024.
The site consists of a land area of approximately 15.5 hectares of which around 66,000 m2 is leasable space, offering the possibility of sustainable redevelopment of around 70,000 m2 in the future.
It is located close to all major European motorways, towards Germany, the Netherlands, France or Luxembourg, as well as close to Liège airport, with multimodal access forming a cluster with Intervest's adjacent property.
Following the previous acquisition of an adjacent site in 2022, the existing site will be extended once again with around 16 hectares available for development.
In addition, due to the scale created of almost 30 hectares of land, additional synergies can be found in efficiency and management.
The site was fully leased upon acquisition, at an annual rent of €1.27 mln, with various terms to allow flexibility in responding to the development potential of the site.
With this acquisition, Intervest strengthens its position in the Liège area, a logistics hotspot in Wallonia for transporters and logistics service providers.
