WDP is expanding its partnership with Euro Pool System through the development of a new construction project of 30,000 m² in Zellik, Belgium. The project is part of a combination project, whereby the existing tenant Antalis will now have a more suitable, smaller area at this location, freeing up space to realise a completely new customised warehouse site for Euro Pool System. Euro Pool System already operates in two WDP locations in the Netherlands.
Combination project through redevelopment and new construction
The site in Zellik, which was acquired by WDP in 2014 with the goal of future redevelopment, is now being transformed specifically for two tenants:
As previously announced, Antalis, tenant of the entire site at the time of purchase, is downsizing to a smaller, more suitable building of 8,000 m² in total (including 6,000 m² in the existing building and 2,000 m² of new construction) on the basis of a 3-6-9 lease in the spring of 2016.
The remaining vacated space is being redeveloped into a service centre, customised for Euro Pool System. Euro Pool System was looking for a new site to replace its current service centre in the Zellik region, with the intention of supporting its growth within the Benelux. The new service centre will also constitute an important part of the European network of Euro Pool System. In total, an area of 30,000 m² (ground floor and mezzanine) will be developed on the basis of a fixed Property finance lease of fifteen years. Completion of this project is planned for the autumn of 2017.
The total investment for the entire site is approximately 30 million Euro for WDP. It assumes an initial gross rental yield of about 7%.
WDP and Euro Pool System, partners across the borders
This location will strengthen the already existing successful collaboration between WDP and Euro Pool System. At two locations in Barendrecht and Breda, Euro Pool System is already responsible for washing activities for the Dutch market. WDP is now able to provide a warehouse site in Belgium which has been customised especially for the logistics provider of reusable standard packaging. Thanks to this third location, now in Belgium, WDP is able to consolidate its partnership.
For more information:
Joost Uwents
CEO
Annemieke Van der Heyde
Euro Pool System
Tel: +31 (0) 703 014 134