Savills Investment ManagementSavills Investment Management has completed the sale of DSV Venlo, a core logistics asset in the main logistics hub in The Netherlands on behalf of Vestas Investment Management for a sale price of €105 million.
The disposal was an element of a five-year business plan targeting significant capital gains, following the construction and acquisition of the warehouse by Vestas in 2018 as part of a sale and leaseback transaction with Dutch logistics company, DSV.
DSV originally signed a 10-year lease but has since extended its occupation due to its location on a major logistics hub.
The asset also benefits from BREEAM ‘Excellent’ certification.
It’s a great result for all parties involved, and we congratulate Vestas on the outcome.
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Marcel Fleminks, Co-Head, The Netherlands, Savills Investment Management, says, “We successfully executed the business plan as set out in 2018 despite the more challenging market conditions. It’s a great result for all parties involved, and we congratulate Vestas on the outcome.”
Alistair Ennever, Head of Europe, Vestas Investment Management, adds, “We are very pleased to conclude this transaction and want to thank all those involved who help make it happen.
“The quality of the asset and location are undoubted, and despite recent market challenges, we, in partnership with Savills IM, delivered a double-digit return to our investors since acquisition in 2018.”
DSV Venlo was acquired by an established global family office.
JLL, Savills & DLA Piper advised Vestas, with NL Real Estate | Knight Frank, and Greenberg Traurig advising the buyer.
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