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Aberdeen Standard snaps up distribution center in Venlo for €31.67 million

Aberdeen Standard Investments’ European Property Growth Fund (EPGF) has agreed its first transaction of 2019 to forward fund a new 43,000 sqm distribution centre in Venlo. EPGF will invest €31.67 million to acquire the property on Sint Jansweg 15 at Trade Port Noord business park from H. van den Boogaard Projects B.V. who had purchased the site from Ontwikkelbedrijf Greenport Venlo.

The completed centre will deliver a total of 39,100 sqm of state-of-the-art logistics accommodation, a 2,760 sqm mezzanine, 1,100 sqm of office space, and parking for 175 cars. It will be divided into two separate units of equal proportions. Construction is underway, with completion expected in Q4 2019. VDR Bouwgroep has been appointed as head contractor.

“This investment meets our strategic objective to focus on well-located, logistics assets in core European markets with potential for value uplift and income producing over the medium-term. It enhances the opportunity for EPGF to capitalise on the continuing trend of e-commerce expansion, which is re-shaping the logistics sector across Europe,” Veronica Gallo-Alvarez, Fund Manager at Aberdeen Standard Investments, said.

Aberdeen Standard Investments snaps up a new 43,000 sq m distribution centre in Venlo.
This transaction is the fund’s third logistics development in the country and the second investment in this location, taking investments in the Dutch market to over €160 million. EPGF was advised by NL real estate - Knight Frank and DLA Piper. H. van de den Boogaard Projects B.V was advised by Industial real estate partners and Stijl Advocaten.