Aberdeen Standard European Logistics Income PLC has announced it acquired a newly built pre-let warehouse in Zeewolde, the Netherlands, for €29.3 million. In addition to this, the investor said it agreed to buy an existing cross-dock warehouse in Waddinxveen, also in the Netherlands, for €33 million.
Aberdeen Standard European said the warehouse in Zeewolde has been pre-let to industrial valve products distributor VSH Fittings BV on a 15-year lease, commencing in June next year. The total plot size is 55,000 square metres, with the warehouse comprising 35,000 square metres alongside office space and 161 parking places.
Meanwhile, the warehouse in Waddinxveen is leased to fruit and vegetables retailer Combilo International BV on a 15-year triple net lease. The freehold property itself is an existing cross-dock warehouse of 28,000 square metres with 51 loading doors providing facilities across six units.
Aberdeen Standard European believes this warehouse will generate a durable income stream, thanks to its central location, good building specifications, and long lease with a strong covenant tenant.
According to morningstar.co.uk, the company has stated that, with the exchange of contracts on Zeewolde and Waddinxveen, its portfolio is expected to generate a healthy income return.