Logistics Capital Partners, a leading pan European logistics specialist providing project development and asset management services for logistics real estate in Europe, announces one of the largest logistics pre-lets in The Netherlands on behalf of Primark, the global clothing retailer.
The 16 hectare site in Borchwerf Business Park, to be developed by Logistics Capital Partners, is in one of Europe’s prime logistics hubs and a top ranked distribution location in the Netherlands, offering direct access to the A17 motorway between Rotterdam and Antwerp, and easy access to the motorway A58, via a new bypass road, connecting to Breda. The Borchwerf II Business Park is already a very well established park, occupied by other well-known logistics operators and retailers such as Forever Direct, CEVA and Calvin Klein.
Primark will take a new 10 year lease with up to approximately 86,000sq m (900,000sq ft) to be developed in two phases. Construction of Phase 1 (approx. 56,000sq m / 600,000sq ft) starts immediately and will be delivered in mid-2016. This major new facility will be an integral hub for Primark, serving their Northern European network of retail stores and expansion programme.
Kristof Verstraeten, managing director of Logistics Capital Partners, said: “This distribution centre is one of the largest in Europe. Working with the municipality we have done everything within our power to welcome this new employer to this location, together with Borchwerf II CV, Roosendaal council and REWIN West-Brabant.
“The height, size and design mark this building as truly exceptional. We pride ourselves on having the capabilities and flexibility to be able to deliver this new breed of large scale sophisticated facility, in a market which more generally still fails to meet the needs of today’s global retailers. For example above the loading and unloading zone at the front of the building a three floored mezzanine will be constructed with a rack system for hanging garments. Due to extra building height, being 16 meters below eaves, there is also 40% extra stocking capacity per square meter in the zone with traditional racking. The building will be developed with the latest construction techniques and is compliant with the highest standards for building isolation. For the functional building design, we combined our own international expertise with the experience and input of Primark and our Netherlands project team.”
For the funding of this project, Logistics Capital Partners cooperates with German based Dietz AG. Dietz AG is a family owned real-estate business with a strong focus on logistics assets in Germany. Dietz has recently announced a joint venture with a large Asian sovereign fund with a target size of over EUR 1 Bln to invest in German logistics and light industrial assets. The cooperation with Logistics Capital Partners allows Dietz to expand this venture with modern high quality logistics assets outside Germany, developed and sourced by Logistics Capital Partners.
Wolfgang Dietz, CEO of Dietz AG, said: “During the commercial discussions, LCP was recommended to us to explore options for cooperation. Shortly after that Kristof and James were able to bring the first investments to the table, such as the Primark warehouse, demonstrating their close relationships to some of the leading occupiers in the market. We now have a framework agreement in place that can be rolled out to other opportunities, in other countries.”
James Markby, managing director Logistic Capital Partners, said: “We are absolutely delighted to make this announcement, and to be working with all these exceptional stakeholders to deliver this project. This is a significant milestone for Logistic Capital Partners and it draws together exactly the type of customer, partners and business opportunity that we set out to capture when we founded the company. We now have an established track record as Logistics Capital Partners, and are looking forward to delivering more of these types of projects for both our occupational partners, and investment partners.”
Verstraeten said: “We have a very experienced, professional and cohesive team at Logistics Capital Partners and we are particularly keen to share these capabilities and ideas with the managers of logistics and retail companies across Europe who are looking for a new partner and a fresh approach to deliver their distribution requirements.”