Press Information

24. 02. 2017

  • Profit for the year of € 91.3 million (+ € 4.7 million against 2015)
  • 69.3% increase of annualised committed leases to € 64.3 million[1] (+ € 26.3 million compared to 31 December 2015) with an additional € 1.9 million[2] lease contracts being signed during the first weeks of 2017
  • The weighted average term of the annualised committed leases of the combined own and Joint Venture portfolio stood at 10.3 years at the year-end (7.5 years as at 31 December 2015). The own portfolio reached 14.1 years and 7.8 years for the Joint Venture portfolio
  • The signed annualised committed leases at year end represent a total of 1,278,238 m² of lettable area of which 545,715 m² relates to the own portfolio and 732,523 m² to the VGP European Logistics joint venture
  • 14 projects delivered during the year representing 268,945 m² of lettable area. In addition, 17 projects under construction representing 381,041 m² of future lettable area
  • Strong entrance into the Spanish market with the acquisition of a state of the art brand new 185,000 m² warehouse (let under a long term lease contract) located in Barcelona and the acquisition of around 400,000 m² of development land in Madrid and Barcelona representing an aggregate investment of circa € 195 million
  • The acquisition of new development land during the year totalled 1,166,000 m² (including Spain) to support the development pipeline
  • Following the establishment of the 50/50 VGP European Logistics joint venture with Allianz Real Estate and the first closing at the end of May 2016 a second closing occurred at the end of October 2016 for a transaction value in excess of € 80 million
  • Net valuation gain on the investment portfolio reaches € 118.9 million (compared to € 104.0 million at the end of December 2015)
  • Successful placement of a new 7 year € 225 million retail bond on 22 September 2016
  • The Board of Directors has decided to convene an Extraordinary Shareholders’ Meeting[3] to propose a capital reduction in cash of € 20 million (€ 1.08 per share)

[1] Including VGP European Logistics (joint venture with Allianz Real Estate). As at 31 December 2016 the annualised committed leases for VGP European Logistics stood at € 38.6 million.
[2] Including € 1.2 million annualised committed leases contracted for VGP European Logistics
[3] The Extraordinary Shareholders’ Meeting is planned to be held on the date as the next General meeting of shareholders i.e. 12 May 2017.

More information: Annual Results 2016

21. 12. 2016

The pan-European investment and property Group VGP announces the acquisition of a large development land plot in San Fernando de Henares located close to the Madrid Barajas International airport.

The transaction consists in the acquisition of 223,000 m² of new development land on which VGP will be able to develop around 140,000 m² of new lettable area for future tenants.

Jan Van Geet, CEO of VGP, comments: “We are very happy to have been able to acquire a prime development location in Madrid and are keen to start our first developments during 2017. With the acquisition of the development land in San Fernando de Henares together with the acquisition of the logistics centre and surrounding industrial land plots in the Mango Logistics Park in Lliçà d’Amunt (Barcelona) announced yesterday, VGP now disposes of two very attractive development locations in the two main cities it targeted when entering the Spanish market.”

20. 12. 2016

 - Acquisition from the fashion Group Mango of a state of the art brand new 180,000 m² logistics building (extendable to circa 260,000 m²) and lease back to Mango of this facility under a long term lease agreement; and,

 - Acquisition of around 150,000 m² of additional development land

The pan-European investment and property Group VGP announces the acquisition of the logistics centre and industrial land plots in Mango Logistics Park in Lliçà d’Amunt (Barcelona, Spain).

The transaction consists in the acquisition of a state of the art brand new logistics building and the acquisition of additional development land. The initial transaction value is in excess of EUR 150 million.

The international fashion Group Mango, with headquarters north of Barcelona, will rent back the logistics building from VGP under a 30 years lease agreement. The construction of one of the most modern logistics buildings in Europe with an initial lettable area of around 180,000 m² is currently coming to completion and will become fully operational as from the beginning of 2017. The Mango building allows for further extension possibilities to develop around 80,000 m² of additional lettable area during the future years. Once fully developed the Mango building will represent circa 260,000 m² of logistics building and office space.

In addition to the Mango building, VGP is acquiring around 150,000 m² of additional development land on which VGP will be able to develop approximately 100,000 m2 of new lettable area for other potential tenants in the near future.

Mango using one-of-a-kind logistics technology

The Mango Logistics centre incorporates the latest technology and logistics robotics capable of handling 75,000 clothing units per hour and streamlining all the logistics processes of the Mango Group. This centre will supply the entire Mango network worldwide which consists of more than 2,200 retail outlets in 110 countries.

Jan Van Geet, CEO of VGP, comments: “We are very happy to start a long term partnership with Mango. Mango has a long Spanish history and has decided to serve their entire network from here. This is a competitive logistic challenge. We are happy to support them in establishing a logistics centre which is fully capable to provide all necessary structure and tools. At the same time, the acquired extra development land will allow VGP to develop additional buildings located on a top location in Barcelona.”

Daniel López, Executive Vice-President of Mango, adds: “VGP with their long experience as investor and developer of industrial and logistics parks is the perfect partner for Mango. It is a Win-Win deal with both partners focusing on their core competencies.”

Preserving the environment

During the construction of the Mango Industrial Park, the entire excess soil originating from the construction work was redeployed within the industrial park to avoid transport and waste disposal. In addition, the completed park will have a rain management system to re-use rain water. As part of the development, a 10,000 m³ mill pond was created in accordance with technical criteria which favours biodiversity and microhabitats together with 395,000 m² of green zones with native low water consumption for indigenous trees and plants. Finally, there is a remote management of lighting conditions with point to point regulation, and a low consumption lighting system in place.

For more information:
Jan Van Geet
Tel. + 420 602 404 790

Dirk Stoop
Tel. +32 52 45 43 86

07. 11. 2016

The investment and property group VGP has concluded a new long-term lease agreement with Amazon for its industrial park Frankenthal located in the Rhineland-Palatinate region (Germany). The e-commerce company will rent a fulfilment centre covering approximately 60,000 m² of warehouse and ancillary office space that is exclusively developed by VGP. Once completed, the facility will be one of the most modern high-tech fulfilment centres in Europe.

Amazon to create over 1,000 jobs

Hand-over of keys and opening of the fulfilment centre is planned for late 2017. Amazon will create over 1,000 new permanent full-time jobs in the first year of operations. In addition to the logistics’ space, VGP will also build offices and an extra car park with 1,200 parking spaces for employees on the 17-hectare-large logistics and industrial park of Frankenthal. With this new project, Amazon is another example of how e-commerce companies become more and more the driving force of growth in the logistics sector and another important e-commerce tenant for VGP in the German market, in addition to VGP’s other e-commerce clients in its completed portfolio.

State-of-the-art solutions for e-commerce property

Jan Van Geet, CEO of VGP, comments: “We are very happy to welcome Amazon in our VGP Park in Frankenthal. E-commerce has evolved as the strongest growth driver in logistics properties in the past years. Therefore we look forward to realizing this customized fulfilment centre and to prove our capabilities to build a competitive logistics property that meets the highest, future-oriented quality requirements. We are also happy to present to the City of Frankenthal a tenant that will create a substantial number of jobs and will participate in the economic development and prosperity of the region.”

The VGP Park Frankenthal is located at motorway junction Ludwigshafen, in the near vicinity of Frankenthal and Ludwigshafen.

14. 10. 2016

FIA Pro Team s.r.o., a leading producer of painting supplies, signed a lease contract for 2,400 m2 of warehouse and production spaces and 353 m2 of administrative space in VGP Park Český Újezd. From January 2017, the newly constructed hall will serve as FIA ProTeam’s second manufacturing plant in the Czech Republic, where the company plans to produce moltopren and flock painting and varnishing rollers.

FIA ProTeam s.r.o. is part of the multinational Storch-Ciret Group which joins companies all over the world working in the development, production, and sale of painting tools. FIA ProTeam focused mainly on manufacturing of painting rollers, protective plastic films, and masking tapes.


Petra Vanclová

VGP - industriální stavby s.r.o.

Červený dvůr
Jenišovice 59 CZ-468 33, Jenišovice u Jablonce nad Nisou
Czech Republic

+420 226 212 001