PRESS RELEASE – REGULATED INFORMATION
VGP acquires a warehouse let to Magna Steyr and industrial land plots in Graz, Austria
29 November 2018, 7:00am, Antwerp (Berchem), Belgium: VGP NV (‘VGP’ or ‘the Group’) today announces the successful acquisition of a warehouse let to Magna Steyr Fahrzeugtechnik AG & Co KG (‘Magna Steyr’) in Graz, Austria. The new warehouse has a size of circa 17,000 SQM of gross lettable area and is leased to Magna Steyr under a 15 year term. The transaction also consists of around 9 hectares of additional development land.
Jan van Geet, CEO of VGP, commented: “We are very pleased with this transaction as this building, with the adjacent development land, gives us a good starting footprint in the Austrian market, which we will cover out of our offices in Germany for now.”
Jan van Geet concluded: “The warehouse, which was delivered less than one year ago, is a classic structure and fits well into our portfolio. In addition to the standing building, this transaction gives us the ability to develop circa 45,000 SQM of future lettable area for other potential tenants, at a very desirable location, just south of the city centre, with direct access to the A9 Motorway and to the rail freight container terminal Cargo Center Graz.”
Magna Steyr, part of Magna International and based in Graz where it operates its primary manufacturing plant, is an iconic Austrian industrial company with over a 100 years of experience in brand-independent engineering and as a manufacturing partner for OEMs. Magna International has 340 manufacturing facilities, is active in 27 countries and has over 173,000 employees worldwide.
With a growing population of currently 630,000 within its metropolitan region, Graz is Austria's second largest city and one of the country’s main economic, scientific and cultural centres. Graz is a main transport junction in south east Austria and there are motorway connections with its hinterland, other Austrian cities and the neighbouring countries of northern Italy, southern Germany, Hungary and Slovenia.
Contact details for investors and Media enquiries:
| Martijn Vlutters (VP – Business Development & Investor Relations) | Tel: +32 (0)3 289 1433 |
| Petra Vanclova (External Communications) | Tel: +42 0 602 262 107 |
About VGP
VGP is a leading pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a well-advanced land bank of actually over 5.7 million sqm and the strategic focus is on the development of business parks. Founded in 1998 as a family-owned real estate developer in the Czech Republic, VGP with a staff of around 170 employees today owns and operates assets in 11 European countries directly and through VGP European Logistics, a joint venture with Allianz Real Estate. In the first half of 2018, the Gross Asset Value of VGP, including the joint venture, amounted to €1.807 billion and the company had a Net Asset Value (EPRA NAV) of €536 million. VGP is listed on Euronext Brussels and on the Prague Stock Exchange (ISIN: BE0003878957). For more information, please visit: http://www.vgpparks.eu
Attachment
