Transaction in difficult Namur logistics market

Tim Harrup

There has been some activity in the logistics domain at Namur. Advised by JLL, Sambria has sold two buildings located on the Rue des Pieds d’Alouette (Naninne business park) to private investor Steveny. The two buildings amount to 15,554 m² of warehousing and 3,071 m² of office space.

This transaction falls within the context of a lack of available space for logistics activities around Namur. JLL points out that there has not been any land available for some time in the Naninne business park to the south of the city, and that industrialists have been looking to Rhisnes (Namur north towards Charleroi) and Andenne (Namur north towards Liège) to find space held by the Economic Bureau of the Province of Namur (BEP).

To face up to this situation, the BEP has been making arrangements to provide more facilities in the region. It has received permission to develop around 45 hectares at Ciney, 9 hectares at Bouge which will be for health-related activities and 10 hectares at Belgrade to the north of Namur, which will be for crafts-persons.

For its part, JLL has noted increasing demand for either sites or existing buildings, but says that satisfying this demand is becoming more difficult. This is because the public authorities, says JLL, are observing less appetite from the public at large for such developments, even though they clearly create employment. And on top of this is the ‘Stop Concrete’ policy set to bring such construction on un-built ground to a total halt by 2050. Converting existing buildings and making better use of under-occupied sites and rehabilitating abandoned industrial sites will therefore become more important.