Savills Investment Management has purchased a new-build distribution project at Nieuwlandsedijk/Mosterddijk in Tholen, the Netherlands.
Financial details were not disclosed.
The project comprises a total of 115,000 m2 and was sold by Danish transport and logistics company DSV via a sale-and-leaseback construction. The distribution centre is strategically located between the two largest ports in Europe, Rotterdam and Antwerp.
Alistair Ennever, director, strategic partnerships, Savills IM, commented: ‘We have concluded multiple transactions with DSV, and this latest acquisition represents our continued belief in their business as well as the logistics sector in general. Pricing and investor demand for the logistics sector continues to gather momentum, and we look forwards to announcing further acquisitions in the sector in the coming months.’
Marcel Fleminks, co-head of the Netherlands, Savills Investment Management, commented: ‘This acquisition represents another important step in growing our logistics AuM in the Netherlands, which currently stands at €760 mln. We continue to be an active player in the market, with further transactions in the pipeline on behalf of both our European Logistics Fund 3 and Strategic Partnership clients.’
Niek Poppelaars, co-head Logistics & Industrial at Savills in the Netherlands, which advised on the deal, added: ‘Even more capital is being invested in the Dutch logistics market than before the pandemic, with the focus strongly on "core" product. This build-to-suit development for one of the largest 3PL parties in the world offers the certainty that investors are eagerly looking for in today's market.’
