Aberdeen Standard Investments has inked a deal to forward purchase a logistics centre scheme in the Dutch town of Waalwijk, for €19 mln from Dutch developer Roozen & Van Hoppe Bouw Ontwikkeling.
The asset is being acquired by the Standard Life Investments European Property Growth Fund. The property is currently seeking a tenant, with the development due to complete in Q3 2018.
'The Dutch logistics sector is performing extremely well as the rapid growth in e-commerce continues to drive demand for logistics space across Europe,' said Veronica Gallo-Alvarez, fund manager of the Standard Life Investments European Property Growth Fund.
'This is our second speculative development in the Netherlands and supports our strategy of investing in logistics assets that will provide stable, long-term income in well established locations across Continental Europe,' Gallo-Alvarez added.
The asset will be certified to the BREEAM Netherlands ‘Very Good’ standards, and includes 19,930 m2 of warehouse space, a 5,973 m2 mezzanine, 1,029 m2 of office space, and parking for 266 cars. It is located in the Haven VII Business Park.
Aberdeen Standard Investments was advised by DLA Piper and NL real estate – Knight Frank, whilst Roozen & Van Hoppe Bouw Ontwikkeling was advised by Raimond Weenink Bedrijfsmakelaardij.