DP World Chemical Logistics Benelux expands at Verdion’s VELF 1 Netherlands asset

Verdion has let more than 12,100 sq m of logistics space in Roosendaal, completing the value-add strategy for this south Netherlands asset on behalf of Verdion European Logistics Fund 1 (VELF 1).

DP World Chemical Logistics Benelux has expanded its presence and now occupies hazardous goods storage space totalling 26,447 sq m following the departure of Raben Netherlands B.V. It already occupies 14,340 sq m in the same building at Tussenriemer 7 on the Borchwerf I Industrial Park.

Verdion acquired the asset in 2020 in an off-market transaction for around €17 million for its VELF 1 fund. In line with the fund’s value-add strategy, Verdion developed a new logistics building offering an additional 8,800 sq m of warehouse, mezzanine and office space on the site in an extension to the existing asset. This new space, which has achieved the BREEAM Very Good environmental standard, has been let to NTG Logistics B.V. since the third quarter of 2022.

Valerie Setz, Senior Asset Manager at Verdion, says: “This asset in Roosendaal is a prime example of how we are implementing our value-add strategy for VELF 1. As well as developing new space to high standards of sustainability, our asset management and technical teams worked closely together to optimise the possible uses of the existing property. All space is now fully let on a long-term basis, achieving a significant increase in value for the fund.”

Florian Stöbe, Head of Investment – Germany and Benelux, at Verdion, adds: “We will also apply this strategy to our successor fund VELF 2, where we are targeting existing properties with expansion potential or redevelopment opportunities in Germany, the Netherlands, the Nordics and other strategic European locations. This strategy enables us to combine expertise in investment management, asset management and project management in a targeted manner to create modern, efficient space for occupiers and long-term added value for investors.”

Leon Jacobs, Director Chemical Logistics Netherlands and Belgium, adds: “This additional space significantly expands our presence in Roosendaal, and the opportunity to double our presence in our current location means we can grow our business without disrupting existing operations. We have worked closely with Verdion on upgrading these buildings to increase energy efficiency and sustainability and we expect to benefit from these improvements in the future.”