Investor news

• 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
CEO
Tel. + 420 602 404 790
E-mail: jan.van.geet@vgpparks.eu

Dirk Stoop
CFO
Tel. +32 52 45 43 86
E-mail: dirk.stoop@vgpparks.eu