FLCT acquires Dutch logistics facility for 43 million euros

[SINGAPORE] The manager of Frasers Logistics & Commercial Trust (FLCT) announced on Thursday (Apr 16) that it has completed the acquisition of a freehold logistics property in Hapert, the Netherlands, for a gross purchase price of 43 million euros (S$64.4 million). 

The transaction was finalised on Wednesday through a sale-and-purchase agreement with the vendor, VDG Property Development 10.

The purchase price reflects a 3.3 per cent discount to the independent valuation of 44.45 million euros conducted in February. 

The acquisition is expected to be accretive to FLCT’s distribution per unit, the manager said. It also brings the trust’s total portfolio to 114 properties with an estimated value of S$7 billion.

The move shifts FLCT’s logistics and industrial portfolio weighting from 75.1 per cent to 75.3 per cent, and increases its geographical exposure in the Netherlands from 5.5 per cent to 6.4 per cent.

“Notwithstanding macroeconomic uncertainties, the Dutch logistics market is expected to remain stable, underpinned by constrained supply and long-term demand drivers such as supply chain diversification and near-shoring,” the manager added.

The facility, located at Diamantweg 26, was completed in October 2025 and features 25,603 square metres of logistics space. It has an Energy Performance Certificate rating of A+++.

It is fully leased to DSV Air & Sea Nederland, a subsidiary of the global transport and logistics provider DSV, and has a weighted average lease to expiry of 9.5 years as at the acquisition date. 

Located 1.4 kilometres from the A67 motorway, the site is also connected to major cities including Eindhoven, Venlo and Antwerp.

Units of FLCT ended at S$0.97 on Thursday before the announcement, S$0.015 or 1.6 per cent higher.