Slough Estates plc has announced that it has acquired a majority shareholding in Mainland BV, a property developer based in the Randstad region of Holland.
This marks Slough's entry into the Dutch market and is an important step in the implementation of Slough's strategy to increase activities in Continental Europe. Like Slough, Mainland specialise in the provision of flexible business space for corporate occupiers. Recent clients include Nikon, KLM, Unisys, Microsoft and UPC.
Mainland is currently part of the Kuiper Group and Slough Estates will initially purchase 60% of Mainland from the shareholder, Jelle Kuiper. Slough will be acquiring not only an established and experienced team but also an existing pipeline of opportunities which will allow the development of 130,000 m² of office and industrial accommodation. The Mainland team comprises seven people led by Managing Director, Frans Sodekamp.
Commenting on the transaction, Walter Hens, Slough Estates' European Managing Director commented "This is an ideal way of entering the Dutch market. Mainland is a specialist developer in Slough's core business areas of suburban office and industrial. Their clients are remarkably similar to our own in Continental Europe and in the UK. We believe that the strong fit between the two companies will allow us to benefit from our mutual client base."
Jelle Kuiper, Chairman of the Kuiper Group, commented "I believe that the international experience and financial strength of Slough Estates will enable Mainland to flourish once the occupational markets improve. We can look forward to a very profitable future together."
Slough and Mainland's first collaboration together will be in providing Corendon, the Dutch travel and airline company, with a new 1500 m² facility at Lijnden Business Park, just to the north of Schiphol Airport.
Source: Slough Estates