Key facts
Location: Breda, The Netherlands
Investment pillar: Value Add
Acquisition price: €50.3 million
Net initial yield: 4.6%
GIA: 46,185 sqm
Eaves height: 12.2 m
Lease expiry: Weighted unexpired lease term of both properties is 8.1 years
Acquisition date: December 2019
Further information
- Purpose built in November 2019, this well-specified property is situated in an established logistics location along the main east-west logistics corridor in the Southern Netherlands.
- With an eaves height of 12 metres, the property is divided into four units and is fully income producing from one lease and a rental guarantee and offers attractive scope for value and income enhancing opportunities.
- Two units with a combined gross internal area of 20,415 sqm are leased to Abbott Logistics B.V. (“Abbott Logistics”) on a new 10-year lease term. Abbot Logistics is part of Abbott Laboratories, a medical devices and healthcare company listed on the New York Stock Exchange with a market capitalisation of c.$150 billion. The lease is subject to annual indexation of 2.0% per annum.
- The remaining two units with a combined gross internal area of 25,857 sqm benefit from a 12-month third party rental guarantee to the Company. The Manager will be seeking to let these two units in the near term and has already received expressions of interest from several potential occupiers.
- The building is fitted with LED lighting and solar panels and is expected to achieve the “Very Good” BREEAM certification.
For related information see Our Properties and Portfolio Summary
