Transaction / Assets Seller Buyer € MM
Lar Buys 200,000 m2 Plot In Cheste To Build Logistics Park
13 February 2017 – El Mundo
It has not even been built yet, but the Ciudad Circuito de Cheste industrial estate is already making its name as an important logistics hub in Valencia. Lidl, which has already announced that it is going to build a new logistics platform here, is now going to be joined by Lar España. The Socimi has acquired around 200,000 m2 of land in the municipality of Cheste, next to the A-3 motorway and just 5km from the intersection with the Mediterranean Highway, on which it plans to build a new logistics park, .
The land acquired by Lar España is located just a few metres from the Circuito Ricardo Tormo, a strategic point in the region of Valencia, given that it is the junction where the roads to the centre and south of the Peninsula meet. In addition, it is just 17 km from Manises Airport and around 30 km from the Port of Valencia, which has become the main entry and exit port for goods.
The operation by Lar España is independent of the one already announced by the German retailer although both were signed on Wednesday 25 January 2017, according to confirmations yesterday from a municipal source. Lidl’s logistics platform is going to occupy a surface area covering 120,000 m2 and with Lar’s purchase, one third of the industrial estate, whose total surface area will amount to 900,000 m2, has already been occupied, before the development of the site has even begun. (…).
Original story: El Mundo (by Francisco Álvarez)
Translation: Carmel Drake