WDP acquires unique 100,000 m² landbank with substantial power capacity
WDP acquires a 100,000 m² land reserve in the Port of Antwerp-Bruges (PoAB), combining a large-scale freehold land position within the port with 40 MVA of firm (“zero-flex”) grid capacity, ensuring full contracted capacity at all times. The transaction, with an investment value of around 24 million euros, was completed through a contribution in kind. WDP intends to develop the site over time, with around 35 million euros of incremental development capex from 2028 onwards. Upon completion, total investment is expected to reach around 60 million euros, targeting an 8.5% NOI yield1. The site’s unique features also provide opportunities for additional value-accretive, power-intensive developments, which could materially increase the total investment over time.
The investment replenishes WDP’s long-term development potential in a market increasingly constrained by both land availability and grid capacity. Its location, substantial power availability and multimodal accessibility provide significant optionality for future pre-let projects and other power-intensive uses, supporting WDP’s continued focus on above-average earnings growth with a below-average risk profile.
Preparing long-term development potential
Located in Antwerp, Belgium, the 10-hectare site represents a unique development opportunity in the Port of Antwerp-Bruges (PoAB), combining one of the last large-scale freehold positions with a 40 MVA firm grid connection, ensuring full contracted capacity at all times. Following the remediation and demolition works of the existing industrial infrastructure, WDP intends to develop a next-generation campus of approximately 55,000 m² GLA, supporting WDP’s #BLEND2030 growth ambitions. The site benefits from direct access to the E34 motorway, rail and inland waterway infrastructure. The planned completion of the Oosterweel Link, a major infrastructure project improving road connectivity to and around the port, is expected to further strengthen the site’s location within the wider Antwerp logistics region.
WDP secures approximately 145 million euros of new land positions year-to-date
The continuous replenishment of land reserves is a key pillar in ensuring continued visibility on future developments and earnings growth. With the acquisition of the Antwerp site, WDP has now secured land positions across its European platform for approximately 145 million euros year-to-date. These land positions comprise 100,000 m² in Antwerp, 375,000 m² in France2, 135,000 m² in the Netherlands3 and 315,000 m² in Romania4,5. This disciplined approach preserves long-term development potential and supports sustainable earnings per share growth.
Acquisition through contribution in kind
This acquisition, with an overall investment value of 23.5 million euros, was realised today through a contribution in kind of the site in WDP, in exchange for 1,111,141 new WDP shares. The new shares were issued as a result of a capital increase, following a decision by the WDP Board of Directors, using the authorised capital.
The issue price was set at 21.19 euros and is based on the volume-weighted average share price (VWAP) of the WDP share, as made available on the Euronext Brussels website (including the dividend for the 2026 financial year) for the two trading days preceding Wednesday 2 September 2026, without any discount being applied. The transaction has therefore led to a strengthening of shareholders’ equity by (rounded) 23.5 million euros, of which an amount of (approximately) 1.3 million euros was allocated to the item Capital and an amount of (approximately) 22.3 million euros to the item Issue Premium.
The new WDP shares are of the same type and grant the same rights (including dividend rights) as the existing WDP shares and represent a total of 0.46% (rounded) of the total number of outstanding shares. As of Thursday 3 September 2026, WDP expects to be granted admission to trade the new shares on the regulated markets of Euronext Brussels and Euronext Amsterdam.
Disclosure under Article 15 of the Act of 2 May 2007 (the Transparency Act)
Upon completion of this capital increase and the issue of new shares, WDP’s total capital as at Wednesday 2 September 2026 will amount to 277,203,530.60 euros. From that same date, WDP’s capital will be represented by 241,949,082 fully paid-up ordinary shares. There are no preferential shares. Each of these shares grants one voting right at the General Meeting, and these shares therefore represent the denominator for the purpose of notifications under the transparency regulations (i.e. notifications in the event of, among other things, reaching, exceeding or falling below the statutory or legal thresholds). In addition to the legal thresholds, WDP’s Articles of Association, pursuant to Article 18 §1 of the Transparency Act, provide for additional statutory thresholds of 3% and 7.5%. There are no outstanding options or subscription rights issued that entitle holders to shares.
1 The NOI yield is defined as the annualised net operating income (gross rental income minus non-recoverable operating expenses) divided by the total investment made.
2 See press release of 11 May 2026.
3 See press release of 7 May 2026.
4 See press release of 24 April 2026.
5 See press release of 31 July 2026.