Standard Life Investments has purchased one logistics building (Fokker 7) and signed an agreement to purchase a second (Fokker 8) at Fokker Logistics Park, located near Schiphol Airport in the Netherlands.
Together they will comprise a total of 37,756m², alongside car parking space for 224. They are the world’s first logistics buildings to be developed using the ‘Cradle to Cradle®’ philosophy created by American architect William McDonough and chemist Michael Braungart, which aims to transform industry through ecologically intelligent design.
5,650m² of the recently completed 18,878m² Fokker 7 unit has been let to VOC Logistics – a logistics service provider specialising in air cargo to and from Asia. This site will also see the development of a 3,000m² solar park.
Construction of the second building, Fokker 8, is scheduled for completion in mid-2017. The total lettable area in this will be 18,878m², with 103 parking spaces. Fokker Logistics Park is a 39-hectare (390,000m²) logistics site created by Anthony Fokker Business Park C.V., a joint venture between Delta Development Group, VolkerWessels and Reggeborgh Group.
Daniel McHugh, Head of Continental European Real Estate, Standard Life Investments, commented, “These first-rate acquisitions reflect our strategy to acquire prime assets in core markets with an element of leasing risk, to deliver attractive risk-adjusted returns. We’re confident that the logistics sector in the Netherlands will continue to perform well and these assets will have the added advantage of built-in sustainability at their core.”
Standard Life Investments was advised by Loyens & Loeff, Royal Haskoning DHV and DTZ Zadelhoff. The vendor was advised by Lexence and Industrial Real Estate Partners. The remaining units will be leased by Industrial Real Estate Partners and DTZ Zadelhoff on behalf of Standard Life Investments.
