WDP to invest €63m to expand Dutch logistics platform

Belgian logistics real estate specialist WDP has announced a €63 mln investment to expand its presence in the Netherlands.

Jurgen Bevelander

This initiative involves two key components: a redevelopment project for Kuehne+Nagel and the acquisition of a new landbank.

WDP is partnering with Kuehne+Nagel to redevelop an existing logistics site in Veghel. This €21 mln project will involve the construction of a 12,500 m² state-of-the-art warehouse and truckyard, integrated into Kuehne+Nagel’s existing campus. The facility is fully pre-let under a 10-year lease and is expected to be completed by the end of 2027. The project aims for BREEAM Excellent certification, aligning with EU Taxonomy criteria for enhanced environmental performance and a reduced carbon footprint.

In addition to the Veghel project, WDP has acquired a 13.5-hectare brownfield site in South-West Netherlands. Strategically located between the ports of Rotterdam and Antwerp, this site provides access to major logistics corridors. WDP plans to develop approximately 40,000 m² of modern logistics real estate and 60,000 m² of Industrial Outdoor Storage (IOS) on the land. The future development capex for this site is estimated at around €50 mln, with work expected to begin in 2028.

The combined initial and future investments in these two projects are projected to total €110 mln, with a target average Net Operating Income (NOI) yield of 7%. This expansion aligns with WDP's strategy of combining pre-let developments with future growth opportunities, reinforcing its position in the Dutch logistics market and supporting its long-term sustainability and earnings growth.

Jurgen Bevelander, country manager WDP Netherlands, said: “The continued confidence of long-standing, cross-border client Kuehne+Nagel reflects the strength of our Dutch platform and the trust clients place in WDP as a long-term real estate partner. Combining repeat business with high-quality redevelopment opportunities and in-house development expertise enables us to reposition existing assets into next-generation logistics infrastructure while creating sustainable value that delivers attractive long-term returns for our clients and shareholders.”