Slough Estates plc, EuropeÃ¢â¬â¢s largest specialist industrial developer and investor, has this week announced the letting to Tibbett & Britten of a 16,500 mÃÂ² warehouse at Bornem in Belgium.
This letting comprises the first phase of a 50,000 mÃÂ² distribution park at Bornem, owned jointly by Slough and KBC Bank, located in the heart of the triangle formed by Brussels, Antwerp and Ghent. Tibbett & Britten will use the building to service a distribution contract for clothing manufacturer, Levi Strauss.
As well as the Bornem distribution park, Slough and KBC have a second distribution park at Rumst, within one kilometre of Junction 8 of the E19, connecting Brussels with Antwerp and the Netherlands. The Rumst scheme will eventually total 80,000 m2 and outline planning consent is already in place for a first phase of 25,000 m2.
The letting marks a very successful conclusion to 2002 for SloughÃ¢â¬â¢s operations in Belgium, which has also seen major office lettings to McDonalds, Agilent Technologies, Deloitte & Touche and DHL. SloughÃ¢â¬â¢s vacancy rate in Belgium currently stands at 7% compared to 22% twelve months ago.
Ian Coull, Chief Executive of Slough Estates, commented Ã¢â¬ÅThis letting to Tibbett & Britten is further evidence of the increasing need for companies to relocate from older style warehouses into modern, purpose built distribution facilities. It is encouraging in terms of our development strategy as we have further land available at both Bornem and Rumst to cater for this increasing demand for well located, modern distribution facilities.Ã¢â¬Â
Slough Estates has been active in Continental Europe since 1962 and in the past six years has developed 350,000 mÃÂ² of distribution warehousing in France, Belgium and Germany.
For further information, please contact:
Simon Hollins, Slough Estates plc, Tel: +44 1753 537171
Andrew Best / Emily Bruning, Shared Value, Tel: +44 207 321 5022