Logistics Capital Partners & Dietz to develop Dutch centre for Primark

4th October 2015 | in News | by PIE-Mag

UK-based Logistics Capital Partners, co-founded by former CBRE logistics head James Markby, is to develop, with Germany’s Dietz, an 86,000 sqm. warehouse in The Netherlands for fashion retailer Primark. Malaysia’s EPF fund is likely to contribute finance. No investment volume was disclosed by the firms. But LCP said in a release the 16 ha. site in the Borchwerf Business Park, located between the Ports of Antwerp and Rotterdam, is one of Europe’s prime logistics hubs.

Borchwerf II is already occupied by well-known operators and retailers such as Forever Direct, CEVA and Calvin Klein. Development of the new warehouse will be in two phases with the first, 56,000 sqm., due to be delivered mid-2016. The asset is pre-let for 10 years to Primark and will serve its north European network of retail stores, plus an expansion program. Kristof Verstraeten, MD Logistics Capital Partners, said: “the height, size and design mark this building as truly exceptional…in a market which generally still fails to meet the needs of today’s global retailers.”

Family-owned Dietz recently announced a €1bn joint venture with the Malaysian government’s Employees Provident Fund to invest in logistics and light industrial projects in Germany and neighbouring countries.

CEO Wolfgang Dietz said the cooperation with LCP means, “we now have a framework agreement in place that can be rolled out to other opportunities, in other countries.” LCP MD Markby said: “This is a significant milestone…exactly the type of customer, partners and business opportunity we set out to capture.” With over €800m of AUM, privately-owned Dietz focuses on logistics and light industrial as well as office and retail assets.

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