Vilvoorde (Brussels Morning Newspaper): WDP bought the old Renault site in Vilvoorde for €100M to develop a modern distribution centre. The company aims for a 7% yield and local integration.
WDP, a well-known Belgian company that develops logistics real estate, has purchased the old Renault site in Vilvoorde for €100 million. This 19-hectare site is located just outside Brussels. WDP plans to transform the area into a modern distribution centre that will include small and medium-sized businesses and manufacturing. The goal is to ensure that the project fits in well with the local environment and supports the city of Vilvoorde’s development plans.
How will WDP transform the Renault site in Vilvoorde?
According to WDP, the Vilvoorde site has many possibilities for future development because it is large and well-located, especially in a place where large areas of land are scarce. This site is important for new projects in a busy part of Belgium where space for big developments is limited. WDP is likely to investigate plans that could change the area while keeping current operations running.
The changes happening in old industrial sites like this one show a trend in cities where these areas are being updated to fit today’s needs, showing how urban spaces are adapting to support businesses and other activities.
The old Renault site in Vilvoorde is expected to yield a net initial yield of about 7%. In their overall portfolio, properties in Romania usually provide better returns than those in Western Europe—7.2% in Romania compared to roughly 5% in Western Europe. This purchase reflects WDP’s focus on sustainable and innovative real estate, as they aim to turn old industrial areas into modern urban spaces that can meet different needs.
Site used for various purposes
The Renault plant in Vilvoorde, Belgium, was operating from 1931 until it closed in 1997.Even though the factory is no longer operational, the site is still termed as the Renault location. It covers 19 hectares, including the land under the Vilvoorde viaduct. After the closure, the site was used for various purposes, such as workshops and warehouses. Now, WDP has purchased the land from Alcopa, which had managed it for many years.
Environmental concerns
According to environmentalists, the redevelopment of the Renault site in Vilvoorde brings several environmental issues that need to be considered. One concern is the potential contamination from its past industrial use, which may require thorough cleanup to make the soil and groundwater safe. The project could also disturb local wildlife and habitats, so careful planning is necessary to reduce these impacts. Construction activities use a lot of resources, which could go against sustainability goals. It has been said that proper waste management will be important to ensure that construction waste is disposed of and recycled.
