Montea has started the development of a 50,000 m² logistics facility at Logistiek Park A12 in Waddinxveen. Furthermore, Montea has acquired a business park of approximately 120,000 m²which has been let under a long-term lease. In total, this involves an investment of € 63 million.
Logistiek Park A12
In August of this year, Montea acquired a plot of land in Waddinxveen with a total surface area of 120,000 m². Montea starts with the construction of the first phase with a distribution centre of 50,000 m². The distribution center is located close to the exit of the A12 motorway and is therefore easily accessible and very well located in the heart of the Randstad. This project also emphasizes sustainable development: the building will be gas-free, rainwater will be re-used and the roof will be equipped with solar panels. HBM Machines B.V. was the first tenant to sign a lease for 36,000 m² in this development for a fixed term of 10 years.
HBM Machines B.V. has been active in metal and woodworking for over 40 years. The company has grown into one of the largest of its kind over the years. HBM offers a very wide range of metalworking machines and accessories.
For the remaining part of 14.000m² in this first phase, Montea is already in talks with several candidate tenants. The new project is expected to be operational in the 4th quarter of 2021.
Jasper van Orden, CEO HBM Machines: “We can't wait to start using the new building. This represents a huge step forward for HBM Machines, at a beautiful location with that is very easily accessible. ”
HBM Machines B.B. has been assisted in this transaction by 3Stone Real Estate, Montea by Cushman & Wakefield and Hemwood. The new building will be built by Bouwbedrijf Remmers B.V. to a design of Pauwert Architectuur B.V.
Montea also bought a plot of land located between the A2 Motorway and the Juliana Canal at the Echt exit. The site is fully let under a triple-net 15-year lease agreement. The site has a total surface area of ca. 120,000 m², a significant expansion of the yielding land bank and thus the future development potential of Montea.
The tenant is a company active in the natural stone and ceramics sector. The seller was advised in this transaction by EPAC Property Counsellors and Rechtstaete, while Montea was assisted by 1530 Real Estate and Hemwood.
Hylcke Okkinga, Director for the Netherlands: "We are delighted to welcome such fine companies as our tenants. Like Montea, they have a long-term vision and attach importance to sustainability."
Together, these investments represent an investment value of € 63 million, with an average initial yield at full occupancy of 6.0%. As a result, Montea's portfolio is rising above € 1.3 billion. Montea's growth plan foresees portfolio growth to € 1.45 billion by the end of 2021. Given their long terms, these contracts improve the average term of the leases in the portfolio to 7.9 years at first maturity (excluding solar panels).