Savills Investment Management has acquired a modern Grade A distribution centre in Veghel in the Netherlands for its pan-European logistics strategy.
The seller in the sale-and-leaseback transaction is Biotope, the owner of the tenant Udea, which is a wholesaler of organic food.
Financial details were not disclosed.
Daniel Hohenthanner, director of investment at Savills IM, said: 'Due to its established location, the long-term lease to a company in the food industry and the very good ESG criteria, the property fits perfectly into our pan-European logistics strategy, which focuses on high-quality and third party-usable properties.
'In these times of high uncertainty, a property like this provides stability in the portfolio.'
Built in 2019, the property comprises approximately 32,250 m2 of lettable space and meets or exceeds the requirements for a modern Grade A distribution centre with 12.20 metres of clear height, 5 t/m2 floor loading and 36 loading bays.
Marcel Fleminks, co-head the Netherlands at Savills IM, said: 'We are happy that in these challenging times we are able to source and execute deals which comply to our standards. The combination of tenant, location and ESG credentials are key to us as a house. We remain a very active player in this field.'
The asset is fully let to Udea for a period of 15 years. It is characterised by very high energy efficiency and has a BREEAM Excellent certification.
Almost 80% of the energy consumed comes from renewable sources. Besides solar panels on the roof, the building also has water-saving sanitary facilities and several charging stations for electric cars and bicycles.
The distribution centre is located in the newly developed 70-hectare industrial estate De Kempkens in Veghel, about 20 km from Eindhoven. It is close to the A 50 (Eindhoven-Nijmegen) and A 67 (Antwerp-Eindhoven-Duisburg) motorways. The site also has an inland waterway container terminal with connections to Maastricht, the port of Rotterdam and the North Sea.
Savills IM was legally advised on the transaction by Dentons and the technical DD was carried out by Savills, amongst others. The seller was commercially advised by BNP Paribas Real Estate.
Further properties in France and Germany are in advanced negotiations.
