Verdion secures 15,000 m2 pre-let in Denmark

Logistics property investor and developer Verdion has secured a pre-let for a warehouse and distribution facility in Greve, Denmark.

The scheme has an investment value of over €25 mln.

A 4-hectare site has been acquired by Verdion to develop 15,000 m2 of Grade A logistics warehousing with further future expansion options available. The scheme is being developed to service the storage and distribution needs for a third party, a major healthcare company in the Nordics.

Construction has begun on site, with delivery of the completed facility scheduled for early Q4 2014.

Mike Hughes, CEO of Verdion, said: 'We have an experienced platform in Scandinavia and this latest leasing reflects our strong confidence in the Nordic market.'

Cushman & Wakefield Corporate Finance advised Verdion and its funding partner HOOPP.

Verdion first announced at the Expo Real trade fair in Munich that they have entered into an agreement with the Canadian pension fund Healthcare of Ontario Pension Plan (HOOPP) for the funding and development of €1 bn worth of logistics parks in Europe.

HOOPP and Verdion said they will work together exclusively for logistics development throughout Europe, building a portfolio with a value of over €1 bn over the next five years.

Verdion, formerly Helios Europe, was established in January 2010 by CEO Michael Hughes, with the backing of Mansford Real Estate. As a result of the new funding agreement, Mansford has been bought out of the company and Verdion will now be fully owned and controlled by Hughes, together with his fellow directors.