Delin Capital Asset Management (DCAM), a pan-European distribution and logistics real estate investor and developer, has announced that is has signed a 58,000 sq m (645,830 sq ft) pre-let at its Roosendaal development, with Lidl E-Commerce.
Lidl has entered into a long-term lease. The specifications for the e-fulfilment warehouse, agreed in partnership with Lidl, include 12.20-metre eaves, extensive truck and car parking facilities, an above average dock to door ratio and approximately 5,000 sq m of office and social space. Located in Borchwerf II Business Park, a multi-modal location in the prime logistics hotspot of West Brabant, the development is 60km from Rotterdam Port, Europe’s largest deep-water port area. The warehouse is expected to be completed in spring 2018.
In addition to the pre-let, DCAM has committed to 150,000 sq m (1.6m sq ft) of new logistics development projects across the Benelux region during 2017, with 100,000 sq m expected to be in construction by Q3 this year. This includes the speculative development of a 35,000 sq m warehouse at Amsterdam Park, one of Europe’s largest Grade-A logistic parks. It benefits from easy access to the A5 motorway, connecting the site to Amsterdam-Schiphol Airport within a 10 minutes’ drive. Current tenants include GE, G-star and a number of other pan-European retailers.
In addition to the current development activity in the Benelux region, DCAM is exploring a number of opportunities in the UK and Germany. The Company’s current portfolio comprises 17 assets across 580,000 sq m and a broad range of tenants, with a specific focus on e-commerce retailers.
Ekaterina Avdonina, Managing Director of DCAM, commented: “Occupier appetite for both pre-let and speculative warehouse development schemes is unabated, as demonstrated by the strength of a pipeline that should offer significant returns on investment, fulfilling what we forecast to be a significant gap in the market.”
Avdonina added: “As supply levels remain at record lows, demand for the highest-quality and state of the art big sheds is being driven by major retailers focusing their resources and capital on improving the end-to-end e-commerce offering. Our ambition is to become a leading player in this space and we are confident that with our existing pipeline and UK and German expansion plans, we are well placed to achieve this.”