Belgian-listed real estate company Montea has invested €29.7 mln in the Netherlands to acquire a large plot in Diemen and develop a new distribution centre in Oss.
Montea purchased a developed site in Diemen, near Amsterdam, from Cocon Vastgoed. Strategically located near four major Dutch motorways, the property includes a building currently under long-term lease to Cooper Consumer Health, a Dutch health and consumer goods company known for brands like Sinaspril and Valdispert.
Montea will construct a 16,000 m² sustainable distribution center in Oss, Netherlands, for Vos Logistics. Located near Vos Logistics' existing facility and boasting excellent transport links (road, rail, and water access via Maashaven, close to Rotterdam and Antwerp ports), this BREEAM 'Excellent'-rated building will include warehouse, mezzanine, and office space. It is slated for completion by late 2025, commencing a ten-year lease with Vos Logistics.
The company anticipates a 6.9% average initial yield on these investments.
Cedric Montanus, country director of Montea Netherlands, said: ‘The cities of the future will be supplied from the outskirts, so in the long term, this is a great location for urban distribution. An advantage of investing in an existing building is that it already has substantial power infrastructure, which is vital given the current grid congestion issues. The site is currently let on a long-term lease, and should the tenant ever choose to leave, the site holds tremendous potential for redevelopment.’
Hylcke Okkinga, co-director of Montea Netherlands, added: ‘There is a great deal of demand in Brabant for modern logistics distribution centers with the highest sustainability criteria, but supply is limited. However, we will have to be creative with the power infrastructure available on site and may need to install battery energy storage and rooftop solar panels to supply enough power. We have also considered the likelihood that electric trucks will be recharged at this distribution center in the future.’
These long-term investments advance Montea's growth strategy to reach a €3.5 bn valuation by 2027. This involves expanding, developing, and improving the sustainability of its portfolio across the Netherlands, Belgium, France, and Germany, aiming for a 50% increase in value.
