Montea continues to grow its portfolio in the Netherlands, focusing on the country’s logistics hotspots, completing two transactions in Aalsmeer and Tilburg.
In Aalsmeer, Montea acquired a plot of land from Greenpark Aalsmeer (Schiphol Area Development Company) extending to an area of 60,000m². The development of the 40,000m² building has already started and 30,000m² has been pre-leased to Bakkersland.
Green Park Aalsmeer is ideally situated along the new N201 arterial road. It has its own exit from the main road, is just 5 minutes from Schipol and 15 minutes from Amsterdam.
The modern logistics building Montea purachsed in Tilburg is approx. 2,000m², offering high quality warehouses and around 1,400m² of offices on land extending to some 34,000m² at the Vossenberg West logistics zone. The acquisition was made on the basis of a triple net lease with a fixed term of 8 years.
The average lease term until the first break option on both projects is in excess of 16 years. They represent an average initial yield of approx. 7.1% and an investment volume of approx. €50m.
Hylcke Okkinga, director Netherlands commented: “The proportion of Dutch premises in the Montea portfolio has now risen to 30%. But even more important, Montea has confirmed its power as a partner and investor in the development of multimodal hotspots in the Netherlands. In addition to the sites mentioned above, Montea’s current portfolio in Holland includes logistics buildings in Almere, Waddinxveen, Heerlen, ’s Heerenberg, Apeldoorn, Oss and Beuningen. Given the supply of potential new projects in the pipeline, we expect this list to grow still further in the future.”
The logistics market in the Netherlands has been active, with SEGRO acquiring a portfolio of approx. 105,000m² of space in Tilburg earlier this week.
