LogiReal News Portal

Closed-end real-estate investment company WDP (Euronext: WDP) has  signed  an agreement with Immo Weversstraat nv,  subject to a number of customary closing conditions, for the acquisition of a site in Londerzeel for 3.4 million euros. The acquisition is taking place through a partial split and payment via the issue of new WDP shares. It concerns a 30,000m² strategic site with direct access to the A12. 

Strengthening the strategic position along the A12

The acquisition  of the  property in Londerzeel encompasses an old industrial site with approximately 10,000m² of  built surface on a total  land area of approximately 30,000m². The site is currently  let to Crown-Baele nv, a manufacturer of bottling machines, for a remaining lease term of 1 year at an annual rent of 300,000 euros. After expiry of the short-term lease, WDP aims  to  demolish the old buildings, remediate the site, and  start its redevelopment through the construction of a modern logistics complex  -dependent on leasing opportunities.

WDP and Immo Weversstraat nv will present the split proposal today, July 23rd, 2012, to the Clerk of the Commercial Court. The partial split is subject to a number of customary closing conditions, and the approval of the WDP shareholders. The extraordinary general meeting (EGM) of WDP is expected to take place on September 4th, 2012. If the attendance quorum is not reached, a second EGM, expected on September 21st, 2012, will decide on the partial split.

Source: WDP