Montea and MG Real Estate (De Paepe Group) have signed a partnership agreement for the development of the 40 hectare MG Park De Hulst in Willebroek, centrally located between the A12 and E19 Brussels/Antwerp motorways.
This logistics park includes a buildable area of 30 hectares, with 10 hectares of green zone buffering. MG Park De Hulst aims to use its total development potential of 150,000 m² of logistics space to become the benchmark for sustainable logistics real estate.
Given the extensive scale of the park, attention will be paid during development to providing additional services, such as the grouped purchase of green power, centralized waste collections and security. With its central location on the Brussels-Scheldt canal and its proximity to the container terminal at Willebroek, the park also benefits from multi-modal access.
The partnership consists of Montea investing EUR 4.50 million in the development cost of the park infrastructure. In exchange for this investment, Montea will have a preferential right over any development at the site, based on a predetermined yield and depending on the parameters of each separate subproject.
MG Real Estate (De Paepe Group) and Montea will also combine their commercial resources to attract users for the development. The overall development has an estimated total value of €120 million at completion. The partners estimate the full realization of the project will take for 3 to 5 years.
Jo De Wolf, CEO Montea: “We are very pleased to be able to take part through this partnership, in the development of a significant parcel of land along Belgium’s main logistical axis. In contrast with neighboring countries, Belgium has almost no integrated logistics business park. By entering at this early stage, Montea aims to keep control over the overall site. In the future, this will provide us with the opportunity to offer an extensive range of services.
“Along with the sustainability that MG Park De Hulst aims to achieve, the partnership also underscores our ambition to grow further in the development of high-quality property solutions. We are also looking forward to joining forces again with MG Real Estate (De Paepe Group) as we have already worked with them in the past on the development of Brucargo West. The complementarity of our skills and expertise will certainly contribute to the successful development of this ambitious project.”
Source: Montea
