Verdion has secured a new logistics site with an anticipated gross development value in excess of €34.36 mln in the Swedish market hotspot of Jönköping.
CEO and founder, Michael Hughes, called it 'another excellent strategic acquisition in Sweden', adding to the company's growing Nordic portfolio. 'There is incredible demand for inventory space in this market and the well-specified and sustainable buildings we are creating are increasingly important to occupiers,' he said.
Verdion made it first acquisitions in the Nordics on behalf of Verdion European Logistics Fund 1 (VELF 1) in 2021 via two Danish assets. The fund is nearly fully invested, the firm told PropertyEU.
In this latest deal, Verdion will speculatively develop a 21,000 m2 Grade A warehouse with high levels of sustainability and flexibility ready for occupation in Q3 2023.
The 4.1-ha site is located next to the E4 motorway which provides access to Stockholm, Malm? and Gothenburg, and is a 20-minute drive from Jönköping Airport, one of Sweden’s most strategically important freight hubs. Local occupiers include DHL, Schenker, Elgiganten, IKEA, Husqvarna, Bildelar, UPS, Unilever, PostNord, DSV,Bring and ArlaFood.
John Clements, executive director, said: 'This is a particularly attractive opportunity as we increase our Nordics portfolio. Jönköping stands out for its ability to offer same-day deliveries to all the largest Nordics cities and an increasing attractiveness for occupiers set is low vacancy rates. It is one of a number of investment opportunities we are pursuing in locations across Sweden and its advantages were immediately clear.'
Linklaters advised Verdion. Born Advokater KB and New Property advised the sellers.
Verdion was established by Hughes in January 2010, since when it has created a €1.7 bn portfolio omprising both new developments and existing assets for value-add investment strategies across Germany, the UK, the Nordics, Benelux and Czechia. Its current development pipeline exceeds 1.5 mln m2.
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