VGP expanduje napříč Evropou. Foto: VGP Mango Park Barcelona

The zone in Chomutov spreads over an area of 92,670 m2, from which 48,000 m2 is meant for construction. The land, which the fund owned until now, has a zoning and planning decision for industrial use and is located strategically close to the D7 motorway. Arcona Capital took over the administration of the industrial zone in 2009. The North Bohemian Region has recently seen an influx of new investments. The location of the industrial area offers a connection to the road network, the availability of a qualified workforce and small transport distances to the main manufacturing centres of the automotive industry in the Czech Republic and in Germany.

At the end of last year the VGP group acquired a large piece of land not far from Madrid’s international airport. A total of 223,000 m2 in San Fernando de Henares is meant for construction, which VGP wants to begin during the course of this year. “With the acquisition of the and in San Fernando de Henares, together with the announced acquisition of the Mango industrial
park from December 2016, VGP has very attractive localities in two important Spanish cities,” stated Jan Van Geet, the General Director of VGP. The total initial amount invested in Spain
ranged around 195 million euros.

Mango Logistics Park is the new distribution centre of the fashion chain of the same name. It is located close to Barcelona on an area of 180,000 m2, which can be further expanded to 260,000 m2. Mango will be leasing it back from VGP as part of a 30-year lease agreement. The Mango logistics centre has the latest technologies and logistics robotics capable of handling 75,000 articles of clothing per hour. Mango Logistics Park will supply this chain’s worldwide network, which is comprised of more than 2,200 shops in 110 countries.

VGP also purchased 150,000 m2 of land north of Barcelona in the area of Lliçà d’Amunt for further construction, on which it will be able to implement more than 100,000 m2 of leasable space for other potential tenants in the near future.

All in all VGP acquired land meant for development with a total area of more than one million square metres in Europe last year. It primarily purchased land for its next industrial areas primarily in Germany (408,000 m2), in Spain (400,000 m2) and in the Czech Republic (358,000 m2). As the company stated in its economic results for the year 2016, published last month, its land bank amounted to almost three million square metres.

At the end of 2016 VGP had altogether 17 buildings totalling 381,000 m2 of leasable space under construction. Six of these buildings are going up under the direction of VGP European
Logistics, which was formed last spring as a new joint venture in a 50/50 ratio with Allianz Real Estate. VGP European Logistics has the exclusive right of fi rst refusal for the acquisition
of buildings built by the VGP group and located in Germany, the Czech Republic, Slovakia and Hungary. VGP operates in the joint venture as the administrator of the real estate and assets
and the management of development activities. In the Czech Republic this refers to one building in VGP Park Brno that is under construction.

In Slovakia it is one building in VGP Park Malacky and in Germany the joint venture with Allianz Real Estate has three buildings under construction in Hamburg and one in the state of
Rhineland-Palatinate in VGP Park Frankenthal, where it is currently building a custom distribution centre for Amazon, which will be leasing approximately 60,000 m2 over the long term. In addition to logistics spaces, VGP will also be building offi ces and a parking lot with a capacity of 1,200 spots for Amazon employees in the 17-hectare Frankenthal logistics and industrial
park. It should be ready at the end of this year. With regard to the group’s independent development, VGP had 11 buildings under construction in the Czech Republic at the turn of 2016/2017,
specifi cally one each in VGP Park Tuchoměřice, VGP Park Ústí nad Labem, VGP Park Český Újezd and VGP Park Olomouc. In addition to these, the company has fi ve buildings in stages of construction in its parks in Germany and one building each in Estonia and Latvia. This makes a total of 221,000 m2, 69 percent of which is space the company is already building for a concrete tenant.

According to the economic results for the year 2016, the operating activities brought a net profi t in the amount of 91.3 million euros (4.91 euros per share), compared to a profi t of 86.6 million euros (4.66 euros per share) for the economic year ending 31 December 2015. The investment and real estate group VGP is quoted on the Brussels stock exchange Euronext and on
the main market of Prague’s stock exchange. The increase in the demand on the market last year led to the signing of lease agreements totalling more than 30.4 million euros, of which 27.4 million euros applied to new or replacement leases and 3 million euros were connected with the renewal of existing lease agreements. From the perspective of sectors, e-commerce grew in importance. From a geographic point of view, Germany had the greatest infl uence on the achieved result with roughly half of the new leases signed in the last year. VGP group’s portfolio of real estate reached 98.8% occupancy as of the least day of 2016, which represents a year-on-year increase of 1.5 percent. The occupancy rate of its own portfolio reached 97% at the end of the year, with 100% for the properties with VGP European Logistics. VGP’s own real estate investment portfolio is currently comprised of 16 completed buildings representing 416,158 m2 of leasable space, while the real estate portfolio of the joint venture is comprised of 33 completed buildings with an area of 593,454 m2.

Source: BUILDING WORLD magazine – March 2017

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