TILBURG, October 9th 2017 – The Standard Life Investments European Property Growth Fund has completed a deal with Dutch developer, Ontwikkelingscombinatie Scheg, for the delivery of a 35,974 sq m logistics centre at the Vossenberg business park in Tilburg, the Netherlands.
The logistics centre – which is due to be completed by the end of March 2018 – will include 31,927 sq m of warehouse space, 1,281 sq m of office space, and a 2,766 sq m mezzanine. The centre will also provide parking space for 260 cars and 21 trucks.
Veronica Gallo-Alvarez, Fund Manager of the Standard Life Investments European Property Growth Fund, commented: “This is a great opportunity to deepen our commitment to the logistics sector in the Netherlands which is a growing market and will add to the fund’s performance over the next few years. We’re confident that this facility will be very attractive to occupiers and will more than deliver on its investment potential.”
The Standard Life Investments European Property Growth Fund was advised by Loyens & Loeff and NL Real Estate. While the seller was advised by CMS and INDUSTRIAL real estate partners.