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Montea announced the development of a new project of a ca. 7,230 m² warehouse and ca. 1,440 m² offices at Brucargo, the cargo section of Brussels Airport. A 12-year lease has been concluded with WFS. Worldwide Flight Services is one of the biggest air freight operators. It is active worldwide at more than 100 locations.
Construction is to start soon and the new build-to-suit project is expected to be operational by the spring of 2019.
Montea had already concluded a long-term superficies agreement with the Brussels Airport Company. After deduction of the acreage benefit to BAC, the project will generate ca. €540,000, which leads to an initial yield of ca. 7.8%. Along with several developments for St Jude Medical, DHL Global Forwarding, Geodis, Nippon Express, Saco Group Air and DHL Aviation Hub, this project is the seventh investment by Montea at Brucargo in the last 4 years.
Marc Claesen, Regional Vice President WFS: “For WFS Belgium, the development of a new warehouse in cooperation with Montea is a crucial step in the further development of a modern handling facility at Brucargo. The new construction project will enable us to give new impetus to the quality standards and the modern requirements for e-commerce and pharmaceuticals in air freight.”
Yves Van Hooland, Director Infrastructure & Real Estate Brussels Airport Company: “With this new development, we further strengthen Brussels Airport’s position as leading logistics gateway in Europe. Brussels Airport optimizes its real Estate Portfolio by sharing value added services with its logistics partners, offering them a unique competitive edge.”
Montea has acquired a logistics distribution centre in Lesquin. Lesquin is situated in the Lille region just a short distance from Lille Airport. The cross-dock distribution centre consists of 3,764 m² storage space and 476 m² offices and is let in its entirety to DHL.
DHL signed a lease for a period of 9 years, with a first termination option after 6 years. This lease will generate an annual rental income of €270,000.
This transaction represents a total investment value of €4.15 million (in line with the investment value determined by the property expert) and will generate a net initial yield of ca. 6.50%.
Jean de Beaufort, Directeur France Montea: “We are delighted with this transaction because we want to expand our property portfolio in the Lille region also. The Lesquin industrial estate is a top location and has always been part of our investment objectives. An international tenant such as DHL is an additional winning asset for Montea.”
Montea and Facil Europe BVBA (supplier of Volvo) signed a lease for 9 years. Facil Europe will use ca. 4,200 m² for the storage of motor vehicle parts and accessories (www.facil.be). This lease will generate an annual rental income of €202,805. Talks are currently in progress with candidate tenants for the remaining available premises.
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