Clarion Partners Europe has acquired, on behalf of one of its commingled funds, two newly developed logistics facilities in Drunen and Hulst, the Netherlands, for c. €80m. The separate transactions take Clarion Partners Europe’s committed investment in the Netherlands past €340m since the start of 2024.
In Drunen, in the Tilburg-Waalwijk region, Clarion Partners Europe has acquired a 32,900m2, BREEAM Very Good facility, which was completed in July 2024, from developer VolkerWessels Logistics Development. It is leased to West Coast Supply Group’s Green Qube Services division, a leading wholesaler of premium brand fast-moving consumer goods, on a seven-year term, serving as a key distribution hub. The property benefits from its proximity to Europe’s largest port (Rotterdam), and excellent arterial connectivity, via the nearby A59, A2 and A16, towards Breda, Utrecht, Amsterdam, Rotterdam and Antwerp.
In Hulst, West Brabant, the Company has acquired, a 25,270m2 BREEAM Good In-Use property, from developer REDD. It is let to global supply chain company Yusen Logistics on a five-year term. Hulst is strategically located less than a 25-minute drive from the Port of Antwerp, the second-largest port in Europe, whilst more than 15 million people live within a 100-kilometer radius.
Max Rooney, Vice President at Clarion Partners Europe, commented: “These transactions are consistent with our fund strategy and commitment to owning tenant critical, future-proofed real estate. Both properties are located in core distribution hubs, benefitting from excellent arterial connectivity and proximity to major European ports.”
Rory Buck, Managing Director at Clarion Partners Europe, added: “The Netherlands is an increasingly pivotal market in the supply chains for both national and global businesses. With new development remaining muted, the rental growth outlook in the Netherlands remains compelling, which is underpinning our continued deployment in the region.”
Clarion Partners Europe was advised by Savills and Loyens & Loeff on both transactions. VolkerWessels Logistics Development was advised by Bridgegap, Sight Law and Wenckebach. REDD was advised by EvolutionRE, TLF Real Estate and AKD.
Image source - Clarion.
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