JLL links Montea to Bosal in Lummen

JLL performs a classic "sale and rent back" on the estate of Bosal Emission Control Systems (Bosal) in the Dellestraat 20 in Lummen.

The Bosal site is located in Lummen, along the E313 (Antwerp - Liège) in the Zolder-Lummen industrial zone and has direct access to the E313/E314 via the entry and exit  26. This industrial zone is characterised by an extremely central and accessible location in the east of Belgium and is also located in the immediate vicinity of the Albert Canal. The domain consists of a total industrial area of 82,785 m². The site includes approximately 8,000 m² of warehouses and 2,400 office and parking spaces on a site of 27,277 m². In addition, there is also a development area of 55,508 m².

Bosal was founded in 1923 in Dutch Alkmaar and is active worldwide. Their annual turnover is more than 520 million euros and they employ more than 2,500 people in 12 factories and 10 distribution centres. Bosal is a well-known supplier to the automotive industry. Their head office and research and development centre are located in Lummen. 

In the summer of 2018, JLL Valuation & Consulting was asked through its international network to value the real estate of Bosal in Lummen. During this exercise, JLL worked out the various scenarios of "sale and rent back" and a full or partial sale. At the end of 2018, JLL Leasing and JLL Capital Markets were involved in these discussions. This thinking resulted in a first bidding procedure at the beginning of 2019. Neighbours, developers, investors, logistics service companies and industrial players from home and abroad were asked to formulate their best bid for this property. After just two months, more than ten parties showed an interest in this property by formulating a concrete and effective bid.  The regulated real estate company Montea was the strongest bidder. The existing buildings on Dellestraat were immediately let back to Bosal for a fixed period of 16 years. The annual rent is approximately 0.4 million euros.

 The regulated real estate company Montea was the strongest bidder. The existing buildings on Dellestraat were immediately let back to Bosal for a fixed period of 16 years. The annual rent is approximately 0.4 million euros.

Under the name "Lummen Carbonfree", Montea is planning to develop the first fossil-free warehouse in Belgium. Solar panels in combination with a system of heat pumps will make any fossil fuel unnecessary. Logistic activities as well as production and assembly companies are targeted.

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.be.