VGP NV: VGP acquires large development potential in the North of Germany

Press Release
Regulated Information

Brussels 3 June 2013

VGP acquires large development potential in the North of Germany

At the end of May 2013, VGP concluded the purchase of the remaining 51 hectare development land of LogPark Hamburg. LogPark Hamburg consists of approximately 80 hectares of land and is directly located 20 km south of Hamburg at the Autobahn A1 Hamburg - Bremen at the exit "Rade".

The very successful LogPark Hamburg was created by the Habacker Holding. Both parties envisage working closely together in the future.

The location is highly-sought after due to its unique position at the gateway of North- and Eastern Europe and has already established itself as a strong location from which companies such as Lidl, DHL, Geodis and C&A run their logistic operations.

The fully zoned development land, equipped with all necessary infrastructure, allows VGP to develop around 210,000 m² of high-end semi-industrial real estate.

Once fully developed, LogPark Hamburg will represent one of the largest contiguous commercial logistics real estate area in Germany.

This transaction substantially increases VGP's footprint in Germany.

Jan Van Geet, CEO of VGP said:  "We are delighted to have been able to acquire this land plot.  The transaction provides us with a solid base in Germany and establishes VGP as a strong local developer. Together with our fast growing German team, we look forward to welcoming our first new tenants on our new locations soon. In the meantime VGP continues to actively look at other new development opportunities in line with its strategy i.e. acquiring where possible top locations around large economic agglomerations in Germany."

Stephanie Habacker-Arndt and Michael Habacker, Managing Partners of Habacker Holding added: "We are very satisfied with the deal. The development of the park has matured to a point where it is now attractive to international investors. We are happy to have found an investor in VGP who will further develop the area and continue the successful concept. "

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