Earnings Release • Feb 7, 2014
Earnings Release
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REGULATED INFORMATION EMBARGO UNTIL 07/02/2014 – 7.00 AM
PORTFOLIO IN THE NETHERLANDS INCREASES BY EUR 25.6 MILLION
PORTFOLIO IN BELGIUM INCREASES BY EUR 16.6 MILLION
THESE FOUR TRANSACTIONS, WITH AN AVERAGE FIXED TERM OF 14 YEARS, TOGETHER REPRESENT A TOTAL INVESTMENT VALUE OF EUR 42.2 MILLION AND WILL GENERATE ADDITIONAL RENTAL INCOME OF EUR 3.28 MILLION AT COMPLETION IN THE COURSE OF 2014, BASED ON AN INITIAL GROSS YIELD OF 7.8%.
Aalst, 7th February 2014 – MONTEA (MONT) today announces a EUR 42.2 million increase of its property portfolio.
Portfolio in the Netherlands increases by EUR 25.6 million as a result of the start up of a 25,600 m² build-to-suit project in Oss and the acquisition of a 19,500 m² logistics distribution centre in Waddinxveen
Montea and Vos Logistics have signed an agreement for the construction and lease of a new European Distribution Centre at the "De Geer" industrial estate in Oss. After an extensive tender procedure, the buildto-suit project of Van der Maazen (turnkey contractor) and Montea (end-investor) was selected as winning project. The site extends over a surface area of approximately 35,000 m². The building will provide 24,300 m² of warehousing, 680 m² of office space and a mezzanine area of 800 m². The new platform benefits from an
outstanding location, with connections to the A50/A59 motorways. It will be operational by 1st October 2014. The transaction was brokered by Cushman & Wakefield.
Montea "Space for Growth" – site at Oss (NL)
As part of the development, particular attention will be focused on the sustainability angle, including the installation of LED lighting, provisions for solar panels, etc. As a result, the building will be BREEAM (Building Research Establishment Environmental Assessment Method) certified.
The building is leased to Vos Logistics, an independent European logistics service-provider, which offers a wide range of haulage and customer-specific logistics services, for a fixed period of 7 years and three months.
Hylcke Okkinga, Cushman & Wakefield: "Oss is becoming an increasingly important multimodal hub in the south-east of Holland. With its location on the railway link between Den Bosch and Nijmegen, as well as on the river Maas and major motorways such as the A50/A59, Oss is extremely easy to reach by rail, water and road. This ongoing development and current demand from the marketplace indicate that Oss makes an excellent location for logistics companies to establish their business."
Montea has acquired a logistics distribution centre on land totalling 25,800 m² in Waddinxveen, alongside the A12 motorway (with connections to The Hague–Utrecht–Arnhem–Rühr). The distribution centre consist
of 14,100 m² of warehousing, with a 2,600 m² mezzanine and office space of approximately 2,800 m². The building is equipped with 17 loading docks. The site offers a further potential to expand of 6,000 m². The transaction was brokered by Cushman &
Wakefield. Montea "Space for Growth" - site at Waddinxveen (NL)
The building is leased for a fixed term of 15 years to Delta Wines, a European distributor of wines that plays a leading role in the Dutch market. The distribution centre will also serve as storage space for the supply of Central Europe.
Together, these two transactions represent a total investment value of EUR 25.6 million. Based on an initial gross yield of 8.0%, they will generate additional rent of EUR 2.04 million per year.
Peter Demuynck, CCO Montea: "Just three months after Montea's first purchase transaction in the Netherlands, we are very pleased to add two outstanding logistics platforms to our property portfolio. We have full confidence in the investment potential of the Dutch logistics market. We also firmly believe in the Netherlands for the further expansion of long-term partnerships."
In December 2013, Montea signed a partnership agreement with MG Real Estate (De Paepe Group) for the development of the "MG Park De Hulst" sustainable logistics park in Willebroek.
The partners announce their first joint development consisting of the project for Dachser. The parties have signed a long-term agreement for a fixed term of 15 years.
The development of the first plot at the site encompasses a land area of approximately 37,800 m² on which a build-to-suit crossdock building will be constructed offering approximately 6,800 m² of warehousing and about 2,300 m² of office space. Phase two of the project will see the building expanded by 1,700 m². The crossdock building will be operational during the third quarter of 2014. Montea will acquire the property upon completion, provided a number of usual conditions precedent have been met by that date.
Frans van Bedaf, branch manager Dachser Belgium: "The strong growth in our logistics business at the current site in Willebroek made us look for a new location. We opted for the De Hulst regional industrial estate given that, strategically speaking, it is very well situated as a business hub along the axis between Antwerp and Brussels. We also opted for this location in the interests of our employees who live in the area and so can continue to work here."
Montea «Space for Growth» - site MG Park De Hulst - Dachser (BE)
Montea purchased the "Unilever" site in Vorst in 2008. This site is one of the few strategic industrial and logistical sites within the Brussels Capital Region (borough of Vorst) located alongside the Brussels outer ring road. The land at the site extends to approximately 87,000 m² and came about through the purchase of 8 different buildings, with Unilever as the main tenant. In the context of the proactive management of its property portfolio, Montea decided in 2013 to demolish the oldest building of around 14,000 m² and redevelop a new sustainable project in its place.
During the initial phase, Montea will develop on the site a build-to-suit distribution centre for Metro,
providing total space of 3,500 m². Work has already begun and the new distribution centre is scheduled to be in operation by 1st September 2014. The lease agreement has a fixed term of 27 years. The transaction was brokered by Colliers International.
Montea «Space for Growth» - site Vorst - Metro (BE)
Peter Van de Voorde, Director Operations Metro: "Metro is a wholesaler for catering and food professionals and is part of the Makro group. The new building will be used to distribute Metro's products to all catering and food professionals in the south of Brussels."
These two transactions in Belgium together represent a total investment value of EUR 16.6 million and will generate an additional rental income of EUR 1.28 million per year, based on an initial gross yield of 7.7%.
Jo De Wolf, CEO Montea: "The investments detailed above in the Netherlands and Belgium will strengthen Montea's position at the intersection of international logistics flows. We are delighted to add these quality names to our portfolio. The projects will also contribute towards enhancing the average term of our leases, which is a major focus in the way we manage our portfolio."
Montea Comm. VA is a property trust (Sicafi – SIIC) specialising in logistical and semi-industrial property in the Benelux and France, markets where the company is a benchmark player. Montea literally offers its clients the space to grow by offering flexible, innovative property solutions. In this way, Montea is able to create value for its shareholders. As of 30/09/2013, Montea's property portfolio represented total space of 545,610 m², spread across 33 locations. Montea Comm. VA has been listed on NYSE Euronext Brussels (MONT) and Paris (MONTP) since the end of 2006.
Jo De Wolf +32 53 82 62 62 [email protected]
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