Rockspring Property Investment Managers, on behalf of its PanEuropean fund announces the letting of the 41,400 m² Tredium Logistics warehouse at the Trade Port North Industrial Estate in Venlo, The Netherlands, to Arvato Benelux B.V, a leading international logistics service supplier.
Construction of the Grade A warehouse started in March 2016, shortly after the Fund purchased the site and was completed on time in November at a fixed cost of €22m. Venlo is one of Europe’s logistics hot spots, close to the German and Belgian borders and providing immediate access to an extensive motorway network. The North Sea ports of Amsterdam, Rotterdam and Antwerp, as well as the international airports of Maastricht, Düsseldorf, Amsterdam and Eindhoven, are also in close proximity to Venlo.
Flavio Casero, Partner at Rockspring and Fund Manager of PanEuropean commented: “Securing a tenant of this calibre is testament to the quality of the building we have delivered and we are very pleased to welcome Arvato to Tredium Logistics. The asset fits perfectly into PanEuropean’s core strategy and portfolio, which now has a value of €500m, with 55% invested in the retail sector and 45% in offices and logistics. This particular investment will help to ensure that the fund continues to achieve and exceed its 5% per annum income distribution target.”
Established in 1973, PanEuropean is one of Europe’s longest standing open-ended funds, specialising in the acquisition and management of commercial property located in major cities and large conurbations in Western Europe and Scandinavia. The Fund's low risk core investment style is characterised by a stable running yield enhanced by active management and capital appreciation through rental growth, asset improvement, and timely sales.