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WDP has acquired a fully leased prime logistics site in the Port of Le Havre from AG Real Estate France for around EUR 58 million. The site includes two Grade A buildings and a container storage area, fully leased to Seafrigo until 2033. In addition, WDP sold a vacant logistics asset in Liège for about EUR 35 million. This move reflects WDP’s expansion under its BLEND2027 strategy, strengthening its presence in France and highlighting the strategic role of well-located logistics assets along key European corridors with high demand and limited supply.
Warehouses de Pauw NV (WDP) has completed the acquisition of a fully leased prime logistics site from AG Real Estate France in the Port of Le Havre, one of France’s largest container ports and a major logistics hub in Northern Europe. The site includes two Grade A logistics buildings totaling around 65,000 m² of lettable space, along with a 40,000 m² container storage area capable of holding 1,200 containers, spread over 17 hectares. The total investment amounts to approximately EUR 58 million, with a net operating income yield of 6.0%. Advertisement
The buildings, BREEAM-certified and developed in 2021 for Seafrigo, are entirely leased to this leading international logistics company specializing in temperature-controlled transport and storage under a triple net lease running until the end of 2033.
In parallel, WDP completed the sale of a vacant logistics asset in Liège, Belgium, for about EUR 35 million, exceeding the last market valuation. The transaction highlights the sustained interest from end-users in modern, well-located logistics assets.
Since the launch of its BLEND2027 strategy, WDP has successfully scaled its French platform, supported by a dedicated local team with strong sourcing capabilities in key markets. CEO Joost Uwents emphasized that this acquisition strengthens WDP’s presence and expands its client network. François Le Levier, Country Manager for WDP France, highlighted that partnering with Seafrigo supports their growth in key logistics locations and underlines the strategic importance of the Le Havre site in international supply chains.
Located directly opposite the container terminal with direct access to port and rail infrastructure, the site is part of one of France’s main multimodal logistics platforms. It offers complete connectivity via sea, river, rail, and road, reaching a consumption area of approximately 25 million people within 24 hours. The acquisition falls along a strategic European logistics corridor with limited supply, emphasizing the value of well-positioned port assets.
Source Reuters
5th Jun, 2025
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