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Nivelles
Belgium


LOGISTICS DEVELOPMENT OF 34,000 SQM ON BROWNFIELD SITE IN NIVELLES (SOUTH-BRUSSELS), BELGIUM

CONSTRUCTION START 2022
Whilst in relative terms LCP Nivelles was a smaller project for LCP, this is a very good example of the LCP Team again delivering value for their business partners, by identifying an otherwise missed opportunity and using their technical expertise. The whole business plan was executed in a very efficient timescale and during a very challenging operating environment with the pandemic ongoing at its height.

LCP Responsibilities

Land Acquisition

Immediately after the start of the activities in Belgium, LCP concluded its 1st Belgian land acquisition in 2019. The site of 6ha, located in Nivelles, 20 km South of Brussels, offers with its direct connectivity to the E19 and the E42, an excellent base for both national and cross-border distribution activities.

Brownfield Development

The site had sat redundant for almost 10 years. LCP undertook demolition, remediation and permitting works.Large height differences also needed to be addressed to make the plot site ready for construction.

Construction Development

Soon after the acquisition, LCP decided to start preparation of development of a 34,000 sqm logistics facility, divided in 2 units with both their own entrance, office, social rooms and mezzanine.

Leasing

In the phase of construction preparation a 1st tenant was found with Medi-Market Group, the fast growing pharmaceutical company. Medi-Market uses the warehouse in Nivelles as its central distribution center for both distribution to their shops as for deliveries of their online sales.Within 10 months of practical completion of the building, a lease contract for the remaining unit was concluded with Associated Retail, the logistics services provider within the  Louis Delhaize Group.

Sustainability

LCP's core value with regard to ESG aspects of development was confirmed with a BREEAM In Use certification, rating Very Good.The asset benefits from photovoltaic roof panels, LED lighting, energy efficient heating systems, rainwater recycling and new cycling paths. These being amongst some of the environmentally conscious initiatives that have been implemented along with the redevelopment of this previously redundant contaminated land plot.

Sale to Tritax

In January 2021 LCP agrees the sale of their Prime Belgian Logistics Development to Tritax Eurobox. In their role of Asset Manager, LCP concluded the lease deal with Associated Retail.
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