Intervest Offices & Warehouses (hereinafter “Intervest”) has concluded a turnkey purchase agreement under the usual suspensive conditions for the Gold Forum logistics project development at the Flight Forum business park near Eindhoven airport. The building will form a single entity architecturally and functionally with the Silver Forum business premises acquired by Intervest earlier this year, resulting in a total logistics complex of almost 50.000 m².
Gold Forum will be a state-of-the-art highly sustainable distribution centre of approximately 21.000 m² with a striking organic shape and a gold-coloured curved façade finish. The logistics building is being developed by and at the risk of Kero Vastgoed, a Dutch property developer from the Eindhoven region. Upon delivery it will be acquired by Intervest for a purchase sum of € 18,9 million. The delivery of the project is planned for the third quarter of 2019.
Given the high demand and limited availability in the region, the chances of leasing during the construction period are estimated to be high. However, if the building is not rented at the time of delivery, the developer grants a rental guarantee of 2 years at the rate of € 1,2 million per year. The project will therefore immediately generate rental income for the company as from delivery and yield a gross initial return of 6,2%.
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