Clarion Partners Europe has acquired two Netherlands warehouses on behalf of one of its co-mingled funds, for a total consideration of €50 million (c. £42.8m).
Both properties are located in prime distribution hubs in North Brabant, one of the Netherlands’ top industrial and logistics regions.
In Eindhoven, Clarion Partners Europe has acquired a warehouse on the Business Park Nieuw Acht / GDC Eindhoven Acht business park.
Completed in 2020, the BREEAM In-Use ‘Very Good’ certified property totals c. 17,000m² (c. 182,900ft²) of warehouse and office accommodation and is fully let to a leading Dutch fresh-produce wholesaler.
In Tilburg, the Company has acquired a Grade A warehouse constructed in 2019. Totalling 16,226m² (c. 174,600ft²), the fully institutional, BREEAM ‘Very Good’ certified warehouse features LED lighting and rooftop photovoltaic panels, and is fully leased.
Clarion Partners Europe managing director Rory Buck said: “The Netherlands remains one of our high conviction markets.
“With higher financing and construction costs weighing on new development, vacancy rates for prime assets in many of Europe’s leading distribution hubs are at or close to historic lows.
“With market dislocation, we see a compelling window to deploy capital in a disciplined manner.”
