WDP is expanding its partnership with Euro Pool System through the realization of a construction project of 30,000 m² in Zellik, Belgium. The project is part of a combined project where the original occupier, Antalis, will have a smaller, more customized area in Zellik, which will free up space for Euro Pool System to realize its new construction project. Euro Pool System is already active at two of WDP’s sites in the Netherlands.
The site at Zellik, which was acquired by WDP in 2014 with plans for future redevelopments, is going to be transformed to suit two occupiers:
As previously mentioned, Antalis, the original occupier of the site, will start working on a smaller, more customized site in the spring of 2016. The building comprises 8,000 m² in total (6,000 m2 of pre-existing building and 2,000 m2 of new construction) on the basis of a 3-6-9 contract.
The remaining space will be redeveloped into a service centre tailored to Euro Pool System. Euro Pool System was looking for a new site to replace its current service centre in the Zellik region to support its growth in the Benelux countries. The new service centre will also form an important part of Euro Pool System’s European network. In total, an area of 30,000 m² (ground floor and mezzanine) will be realized on the basis of Property Rental Financing for a fixed term of fifteen years. The project is scheduled to be completed in the autumn of 2017.
The total investment for the site by WDP is about 30 million euro. The initial gross rental yield is estimated at approximately 7%.
This site will strengthen the already successful collaboration between WDP and Euro Pool System. At the sites in Barendrecht and Breda, Euro Pool System provides logistics facilities for the Dutch market. WDP can now supply a warehouse site in Belgium for this logistics service provider of reusable standard packaging, and can thus expand the partnership to a third location, this time in Belgium.