Savills IM snaps up €48m distribution centre in Venlo

Savills IM has announced the acquisition of the BrandLoyalty distribution centre in the southern Dutch city of Venlo, in an off-market deal worth €48 mln.

Built in 2013, the asset was sold by a private investor.

It provides around 39,900 m2 of warehouse space and 1,300 m2 of offices fully leased to BrandLoyalty on a long-term lease.

Marcel Fleminks, co-head of Savills IM's Dutch arm said that the property is earmarked for the ELF II fund.

Earlier this year Savills IM also agreed to forward-purchase a logistics assets in Venlo on behalf of Vestas Investment Management and a club of Korean investors.

The asset, comprising a cross-dock unit totalling 100,000 m2, is currently under construction and on completion will be leased to third-party logistics operator DSV.


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