VGP Acquires an Iconic Land Plot Just a Few Minutes From Central Paris to Develop a 19-hectare Business Park
7 November 2023, 6:00 pm, Antwerp, Belgium: VGP NV (‘VGP’ or ‘the Group’) today announces the acquisition of a 19-hectare site in Vélizy-Villacoublay, part of the 26-hectare site currently occupied by car manufacturer Stellantis. Following the announcement of its first major investment of 32 hectares in Petit-Couronne (Rouen), VGP is stepping up its development in France with its first investment in the strategic district of Greater Paris.
Located in the municipality of Vélizy-Villacoublay, 8 km from the inner city of Paris, the site boasts an exceptional location, just 15 minutes from Paris Orly airport and in the immediate vicinity of Paris-Saclay, a leading science and technology centre. At the junction of the outer ring road of Paris (A86) and N118 motorways and just a few minutes from the capital, the location is ideal for prospective customers and employees who can reach the site by various means of public transport.
Established in France since 2021, VGP is making its second acquisition on an iconic site at the heart of France's leading economic zone. The location and historical presence of Stellantis make this a particularly iconic project. With 19.4 hectares of land at its disposal, the Group plans to develop a business park of around 80,000 m2 for industrial companies and small and medium-sized value-added businesses. Construction work is due to start in the second half of 2025, with the first buildings due for delivery in 2026. As with all the Group's projects, an ambitious environmental approach will be applied to this park and all buildings will achieve a BREEAM Excellent certification as a minimum.
Aurélien Coudert, Managing Director of VGP France: “Given the scarcity of land on the French market, this deal demonstrates our agility and ability to execute. VGP is delighted to be able to take part in a project as strategic as this one, thanks to the relationship of trust we have built up with all the parties involved, in particular the Vélizy town council. We are positioning ourselves as a long-term partner of the Vélizy area and will remain the main partner and point of contact for the project, from the construction phase through to the operation of the buildings. We are convinced that, with its differentiating model, VGP has the capacity to develop strongly in France, on large-scale projects that can boost local economies.”
Jan Van Geet, CEO of VGP: “The acquisition of this iconic site close to the inner city of Paris is an important step in our ambition to develop our business in France, which is a priority market for VGP. We would like to thank Stellantis for their confidence and cooperation on this project and are now looking forward to redeveloping this brownfield into a prime and future-proof business park that meets the needs and requirements of our prospective customers and local authorities. The acquisition of this land gives us the opportunity to deploy our operational expertise in one of Europe's most attractive economic areas. As anticipated previously, VGP has been able to secure a number of other iconic sites in major European metropolitan areas, which will be communicated soon. ”
CONTACT DETAILS FOR INVESTORS AND MEDIA ENQUIRIES
| Investor Relations | Tel: +32 (0)3 289 1433 |
| Karen Huybrechts Head of Marketing | Tel: +32 (0)3 289 1432 |
| Apolline Thomasset Esprit des Sens for VGP France | Tel: 83 |
| Florian Berger Esprit des Sens for VGP France | Tel: 6 |
ABOUT VGP
VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial real estate as well as a provider of renewable energy solutions. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. Founded in 1998 as a Belgian family-owned real estate developer in the Czech Republic, VGP with a staff of circa 371 FTEs today operates in 17 European countries directly and through several 50:50 joint ventures. As of June 2023, the Gross Asset Value of VGP, including the joint ventures at 100%, amounted to € 6.76 billion and the company had a Net Asset Value (EPRA NTA) of € 2.2 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957).
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