JLL's Industrial Agency team advised Signify in de sale-and leaseback of their site in Turnhout
Location
Slachtshuisstraat 25-27, Turnhout
Square Metres
Land: 180.000m²
Warehouse: 86.115 m²
Industry
Electrical and electronic devices
Signify (Euronext: LIGHT), the world leader in lighting, has announced that it has sold its Turnhout site in partnership with real estate specialist JLL and that it is now renting the land and premises occupied from the Campine property developer "Jeni Real Estate". This sale-and-lease back operation is fully in line with Signify Turnhout's corporate policy. It enables the company to continue to focus on the production and marketing of lighting solutions worldwide.
"With the sale of our land and premises, we are closing a chapter of more than 60 years, but at the same time we are looking towards the future with confidence," says Lars van der Meulen, Plant Manager at Signify in Turnhout. "By concluding a lease agreement, we want to emphasize our presence in the Campine region".
Another positive consequence of this agreement is that some parts will be redeveloped by the project developer, which will greatly increase the attractiveness and liveability of the site. Jeni Real Estate is in talks with the city of Turnhout to further define the redevelopment of the site. The Open Manufacturing Campus, which is already located on the site, will also continue and has growth opportunities (on the site).
JLL started the sales process after an extensive evaluation of the site different use and development options. The sales process was initiated at the end of 2018 and after a long candidates selection round and an extensive due diligence period, the sale was successfully completed on June 29th.
"The site is unique because of its surface area of more than 19 ha and is located close to the entrance and exit/access of the motorway Antwerp-Eindhoven in the economic heart of the Kempen; today the site comprises 86,150 m² of buildings. For the immediately available 50,000 m² of land, there is a great deal of interest in a new construction project from various local companies", says Walter Goossens and Ignace Casteleyn who realized this transaction at JLL.
