TH Real Estate acquires Lidl distribution centre | News
We have acquired a premium distribution centre in the Netherlands on behalf of its European logistics portfolio.
Located in the business park Weststad in the city of Oosterhout, southern Netherlands, the cross-dock logistics hub was built in 2014, comprising c.367,000 sq ft (c.34,100 sq m), across two units. The Grade A-building is fully let to a global supermarket chain Lidl on a long-term lease, utilising the asset for storage and distribution of all 'non-food' products to its regional distribution centres and retail stores across Europe.
The location offers excellent connectivity to three major motorways, linking to Antwerp, Rotterdam and Utrecht, with the water and railway networks making this an attractive trimodal hub. Schiphol Airport, the largest Dutch airport and third busiest in Europe can be reached in 35 minutes.
James Ellis, Investment Manager at TH Real Estate comments: "E-commerce and retail logistics are driving demand for quality space close to major population centres. Oosterhout is regarded as one of the logistics hotspots in the Dutch market, and with a flexible, modern-day building specification, the acquisition further enhances the core nature of the portfolio with a stable income stream from a leading global retailer."
Juan C. Dagniaux, ODC C.V., added: "We are thrilled to add value to the European logistics portfolio of TH Real Estate. During initial talks, we quickly found a synergy between our two companies and we look forward to see what the future brings in terms of their further expansion."
This diversified strategy is a part of our European logistics platform, which has grown to a volume of c.€2.6 billion. Combining AUM and pipeline assets the portfolio has a current volume of over €400 million from c.15 assets across its four core countries Italy, Spain, France and the Netherlands. Current investors are pension funds, insurance firms and banks.
The transaction took place with Cording Real Estate Group B.V., our preferred partner for industrial investments in the Netherlands.
The asset was sold by ODC C.V. for an undisclosed sum. We were advised by Malcolm Hollis on the technical and environmental due diligence. De Lobel & Partners acted as sell-side advisor. WTS and Houthoff/Linklaters acted as legal and tax advisors.
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