Resolution Property has made its first acquisition in the logistics sector with the purchase of a 40,000 m2 logistics hub in Woerden, the Netherlands.
Financial details were kept confidential.
The asset is strategically located along Europe’s key logistics corridor and is currently fully let to a single occupier, SNEL Shared Logistics.
Resolution Property has continued to focus a significant amount of its capital outside of the UK, with Europe remaining a target market in its investment strategy. The deal reflects Resolution Property’s strategy to focus on diverse assets in core sub-markets of key European cities.
Arnaud Benoit, head of French and Benelux Investments commented: ‘We are delighted to enter the Dutch logistics market with this first off-market transaction. We see the value in the dynamics of this market because of its strong economy and central location in Western Europe. Product scarcity being experienced in this market is adding pressure on occupiers to find space and the stable e-commerce growth forecasts are a strong driver for the domestic and international logistics market. We believe that the strategic location of this asset will continue to gain in appeal in the future.’
Resolution Property was advised by APF International, who will assist in managing the asset locally, as well as Clifford Chance, PWC and Drees & Sommer.