Foreign equity propelled Dutch light industrial property investment in the first quarter of 2014 to more than double the amount for all of 2013, Savills has reported.
Foreign equity propelled Dutch light industrial property investment in the first quarter of 2014 to more than double the amount for all of 2013, Savills has reported.
According to the report, €129 mln was invested in the sector during the first three months of 2014, compared to €58 mln for full-year 2013.
René Tim, researcher at Savills Netherlands, commented: 'International investors in search of higher yields snapped up the largest share of light industrial investment volume.' These investors were responsible for 87% of the volume in Q1 2014.
The most recent example of foreign investment came in early June as global private equity firm HIG Capital increased its light industrial property holdings in the Netherlands by buying a portfolio of seven assets via its local joint venture.
MBay Netherlands, jointly owned by HIG's Bayside Capital affiliate and specialist European asset manager M7 Real Estate, acquired the assets for €23 mln.
The property adviser's latest report on the light industrial market in the Netherlands was released on the first day of the Provada fair in Amsterdam.
The report suggests that the occupier's market remains relatively stable despite the economic headwinds of the last five years. Demand for smaller units, including multi-let light industrial properties, proved particularly resilient at 450,000 m2. Amsterdam, Schiphol, Rotterdam, Eindhoven and Breda are the most dominant markets in the sector.
Savills spotlight - Light industrial market, The Netherlands