Intervest buys logistics development site in Liège for €29m

Intervest buys logistics development site in Liège for €29m

Intervest Offices & Warehouses has agreed to acquire a strategic logistics site in Liège (Herstal) with a land area of approximately 15,5 ha of which approximately 66.000 sqm is leasable space.

The site offers the possibility of sustainable redevelopment of around 70.000 sqm in the future.

The site is conveniently located, close to all major European motorways, towards Germany, the Netherlands, France or Luxembourg, as well as close to Liège airport, with multimodal access forming a cluster with Intervest’s adjacent property.

As such, following the previous acquisition of an adjacent site in 2022, the existing site will be extended once again with around 16 ha becoming available for development.

Intervest has acquired control of the company Industrial Logistic Warehousing Services SPRL (hereinafter ‘ILWS’), owner of the entire logistics site in Herstal.

The acquisition will be done in two phases. Today, a 74,35% control percentage of the company ILWS has already been acquired. The second part of the acquisition (the remaining 25,65%) is expected to be executed in 2024.

The acquisition of the entire logistics site with an overall real estate investment value of €29 million, in line with the valuation by the company’s property expert, will be financed 54,83% through a non-cash contribution within the framework of the authorised capital and the remaining 45,17% through Intervest’s existing credit lines with financial institutions and by taking over the credit facilities of the company ILWS for approximately € 3,5 million.

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