Belgian property company Warehouses De Pauw (WDP) announced on Wednesday that it is opening a Dutch office to oversee the planned expansion of its portfolio in the Netherlands to EUR 250 mln in the near term. The office will open on 1 February and be located in Waddinxveen near The Hague.
Belgian property company Warehouses De Pauw (WDP) announced on Wednesday that it is opening a Dutch office to oversee the planned expansion of its portfolio in the Netherlands to EUR 250 mln in the near term. The office will open on 1 February and be located in Waddinxveen near The Hague.
WDP also said it bought a second logistics site in the southeastern Dutch city of Venlo with a surface area of 70,000 m2 for EUR 7.72 mln (including transfer fees). The plot adjoins a 50,000 m2 site purchased last year, which formerly housed an old Philips plant and is being redeveloped to accommodate a new logistics centre. The second purchase involves a sale-and-leaseback construction, where by ICT company Belden will lease back the buildings on the site for a period of at least five years.
WDP said the latest purchase will boost the value of its portfolio in the Netherlands to EUR 75 mln. Together with the new-build projects to be delivered in 2008 valued at EUR 50 mln, the total WDP portfolio in the Netherlands will increase to EUR 125 mln in 2008.
