News Article Hungary industrial logistics Weerts
by Property Forum | Industrial

Belgian logistics developer Weerts Group has teamed up with Hungarian-Belgian partner RaktárAD to build a new industrial facility near the Liszt Ferenc International Airport. The park will offer almost 200,000 sqm of logistics and 37,000 sqm of mezzanine and office space. Weers Logistic Park (WLP) is the group's third project realised in Hungary.

WLP XXV is located in Budapest, near the M0 interchange. It is also well-connected to the Budapest airport and the BILK rail terminal, therefore it is an ideal logistics base for air and railroad cargo or other Budapest-serving customers. 

The site will comprise 4 buildings totalling 196,470 sqm in a warehouse, 19,332 in a mezzanine and 17,424 sqm in office space. The developer aims to attract small and medium-sized manufacturing enterprises in the wider region of the airport as the majority of them still can not find suitable industrial space and are forced to work in tight residential areas. 

With this development, the group has more than 1,000,000 sqm under development in Belgium, the Netherlands, France, Germany, the United Kingdom, Hungary and Italy. Additionally, it has an extensive international land bank in strategic locations.

The core portfolio managed by WLP is held by a 33/33/33 joint venture between Weerts Group, WLP’s parent company; Ethias, a Belgian government-owned insurer and Primonial REIM, one of Europe’s largest real estate investment managers.