Press Information

23. 08. 2019

VGP NV (‘VGP’ or ‘the Group’), a leading European provider of high-quality logistics and semi-industrial real estate, today announces the results for half-year ended 30 June 2019:

  • Solid operating performance resulting in a net profit of € 75.0 million
    • Signed and renewed lease agreements corresponding to € 27.0 million of annualised rent income bringing the total annualised rental income to € 129.3 million (+24% YTD)
    • Delivered 175,000 m2 of lettable area in first half of 2019
    • 480,000 m2 under construction as of 30 June 2019
    • After the reporting period end a milestone project near Munich was announced with the development of a new park which is completely pre-let with 250,000 m2 of lettable space
  • Significant strengthening of platform for future growth
    • VGP invested in its future pipeline with 1.7 million m2 of new land bought
    • A further 2.24 million m2 committed subject to permits
  • Announced broadened partnership with Allianz through the launch of second 50:50 Joint Venture on 1 July 2019
    • VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain[2]
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31. 07. 2019

VGP NV ('VGP' or 'the Company') today successfully completed the initial closing with VGP European Logistics 2, its second 50/50 joint venture with Allianz Real Estate, as established on 1st of July 2019. The transaction consists of 3 business parks acquired by the joint venture from VGP, including eight prime logistic buildings of which four in the established markets of respectively Spain (3) and Austria (1), and four in the fast-growing market of Romania.

The initial transaction value is € 175 million, which includes some future development pipeline. The gross proceeds from this transaction amounts to circa € 96 million.

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18. 07. 2019

 LARGEST RELOCATION PROJECT IN GREATER MUNICH SINCE RELOCATION OF AIRPORT IN 1992

VGP, a leading European provider of high-quality logistics and commercial real estate, is developing a new business park in Parsdorf near Munich.

VGP Park Munich is located on a 40 ha site and will offer 250,000 m² of rentable space for logistics and manufacturing companies.

Very near to the city centre and only 30 minutes by car from Munich Airport, the park is located north of the Parsdorf junction on the A 94 motorway in a region of economic importance for agriculture, industry and trade.

Georg Reitsberger, First Mayor of the municipality of Vaterstetten, is looking forward to the project: "For us, VGP is a reliable and professional partner with whom we can further strengthen our region together."

The new park will offer tailor-made solutions for its tenants BMW and KraussMaffei Group offering a wide range of jobs in production, logistics and administration. Krauss Maffei Group will accommodate the complete production of all divisions and head office to Parsdorf. In addition to the 1,800 existing jobs, it will also create many new ones. The relocation of these two companies to Parsdorf will be the largest relocation project in the greater Munich area since the relocation of the airport from Riem to Erding in 1992.

The long-term leases with the two renowned companies have already been concluded with the project developer and builder-owner, VGP Park München GmbH. The construction phases of this project have a timeframe of several years and involve an investment of more than EUR 500 million.

"The Parsdorf site offers KraussMaffei Group the opportunity of the century. We are now seizing this opportunity to remain competitive in the long term and a leader in global markets. We are creating more space to accelerate our growth, secure existing jobs and build new ones", says Dr. Uta Bartsch, Vice President Business Excellence & Facility Services of KraussMaffei Group.

"We are very pleased to have found a new location in Parsdorf for the Supply Centre for our BMW Research and Innovation Center. The optimal location close to Munich enables us to react quickly and flexibly to the requirements of development and production. Our current location on the Heidemannstraße at the Euroindustriepark can thus be used for the construction of urgently needed living space in Munich," says Gerhard Vitzthum, Head of Production Planning and Logistics at BMW. The supply centre for the BMW Research and Innovation Centre is a crucial component for the development of important future technologies for reducing emissions and for tomorrow's mobility."

VGP had already acquired land in Parsdorf in 2013. The land, which is now soon ready for construction, was acquired from the Free State of Bavaria by way of an exchange contract, in which approx. 67 ha of land were acquired by the developer and approx. 52 ha were exchanged. The Budget Committee of the Bavarian Parliament approved this contract in its meeting of 17.07.2019.

Support for the new business park also comes from the Chamber of Industry and Commerce for Munich and Upper Bavaria. "This is a project that has a great impact on the entire Munich area. The choice of Parsdorf shows how strategically important a well-developed transport infrastructure is for an entire region," explains Otto Heinz, Vice-President of the Chamber of Industry and Commerce and speaker of the Munich Region Chamber of Industry and Commerce Forum. "The clear commitment of both companies to the Greater Munich Area is an important signal for the future of Munich and Upper Bavaria as an industrial and research location. The jobs remain here in the region. It is just as important that the areas that become vacant in Munich are now also developed in a meaningful way.” Heinz is convinced: "The decision in favour of the industrial estate is a good example of the fact that the competition between municipalities and counties does not have to be a zero-sum game."

With VGP Park Munich, the VGP Group, which operates in twelve European countries, is further expanding its presence in Germany. The company is currently already active in nine federal German states with a total of 24 industrial parks. Sustainability and energy efficiency are key parameters for the properties developed by VGP. Green roofs are planned for the project in Munich, and 12.5 megawatt peak will be generated by photovoltaic installations. This will create Europe’s largest photovoltaic system installed on a building to date.

Jan Van Geet, CEO of VGP, underlines the importance of the location for his company: "The new Munich business park represents another milestone in the history of our company. Munich is an important European centre for technological development where many companies have their Research and Development departments. This is fully reflected in our rental agreements with which we contribute to the creation of many new forward oriented and valuable jobs. Together with those responsible in the community of Vaterstetten, we will continue to promote the economic significance of the location."

The industrial park is to be completed by 2026. KraussMaffei Group plans to start moving from mid 2022, BMW will move from August 2020.

 


01. 07. 2019

 logo VGP Allianz 2
On 1 July 2019 VGP and Allianz announced they have expanded their strategic partnership with a new 50:50 joint venture. VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain.

Allianz Real Estate and VGP are targeting to grow the joint venture to a gross asset value of EUR1.7 billion within five years by exclusively acquiring prime assets developed by VGP. This latest JV follows the first vehicle - VGP European Logistics - which launched in March 2016 and targets assets in Germany, the Czech Republic, Slovakia and Hungary.

Similarly to the first partnership, VGP will service the new joint venture as its asset, property and development manager. All assets are new or recently built and will be fully leased to blue chip tenants following strict investment criteria. Allianz is committing EUR350 million in equity into the new joint venture at launch.  The venture is being managed for Allianz by Allianz Real Estate on behalf of Allianz group companies.

Jan Van Geet, CEO of VGP:  “We are delighted to further expand our partnership with Allianz Real Estate. Our group has grown significantly since the inception of the first joint venture in 2016 and the increased investment capacity as well as enlarged footprint of the combined two joint ventures fits really well with our expanded pan-European profile.  Through the combination of the two, we can continue to recycle our invested capital and re-invest the disposal proceeds in the development and expansion of our portfolio.”

Olivier Téran, CIO of Allianz Real Estate: “Logistics remains a highly attractive sector, in established markets such as the Netherlands, Spain and Italy but also fast-growth ones such as Romania, and Allianz is focused on selectively building its exposure globally by working with prime partners such as VGP.  We are delighted to be once again working with VGP, an established leader in the European logistics sector and a firm with a proven track record of success and deep understanding of the dynamics shaping the market.”


01. 07. 2019

VGP NV (“VGP”), the Antwerp-based pan-European developer, manager and owner of logistics and semi-industrial real estate assets and Allianz have expanded their strategic partnership with a new 50:50 joint venture. VGP European Logistics 2 is an investment vehicle targeting core logistics assets in Austria, Italy, the Netherlands, Portugal, Romania and Spain.

Allianz Real Estate and VGP are targeting to grow the joint venture to a gross asset value of EUR1.7 billion within five years by exclusively acquiring prime assets developed by VGP. This latest JV follows the first vehicle - VGP European Logistics - which launched in March 2016 and targets assets in Germany, the Czech Republic, Slovakia and Hungary. It currently has a gross asset value of c. EUR1.4 billion in ownership or under construction.

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Press

Petra Vanclová

VGP - industriální stavby s.r.o.


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