WDP expands French platform with €52 million in acquisitions
WDP expands French platform with €52 million in acquisitions
WDP further strengthens its French platform through the acquisition of two logistics assets in Alzonne and Vendargues, representing a total investment volume of around 52 million euros. Together, the acquisitions comprise around 50,300 m² of lettable area and generate an average NOI yield[1] of approximately 7%, supported by lease agreements with an average duration of seven years. Alongside immediate earnings accretion and embedded value creation potential, the acquisitions further densify WDP’s network along key logistics corridors in southern France, reinforcing its ability to support a broad and increasingly interconnected European logistics platform, as demonstrated by the cross-border growth of existing international clients.
[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.
Both assets further scale our presence in established logistics markets along key transport corridors in southern France. Their complementary profiles combine income visibility with future value creation potential, demonstrating the attractive opportunities we continue to identify across the French market. At the same time, building out cross-border partnerships with existing clients reflects the strength of WDP’s integrated European platform and client-centric approach.
Alzonne: DHL sale-and-leaseback supporting the crop science sector
In Alzonne, near Toulouse, WDP completed the acquisition of a newly built cold-chain logistics facility through a sale-and-leaseback transaction with DHL for an investment of approximately 27 million euros. The asset comprises around 23,300 m² of GLA with 8,000 m² development potential and is fully leased to DHL under a fixed 9‑year triple net lease agreement. DHL, a longstanding international WDP client, operates the facility for a major company in the crop science sector, consolidating logistics flows from four locations into a single distribution hub serving European inbound flows and global outbound distribution. Built-to-suit for specialised cold-chain logistics operations, the building was designed to meet the requirements of BREEAM Excellent and WELL Core Gold (offices only) certification standards, as well as the EU Taxonomy and CRREM pathways. The warehouse also incorporates advanced sustainability features, including solar panels, EV charging infrastructure and a fully electric climate control system.
Vendargues: value-add acquisition
WDP completed the acquisition of a fully leased logistics facility for an investment of approximately 25 million euros in Vendargues, near Montpellier, along the A9 corridor connecting France and Spain. The asset comprises approximately 27,000 m² of GLA and serves as the headquarters and operational hub for Southern Europe of a longstanding international WDP client.
