Management Report

2. Projects completed in 2009

These completed projects represent a total investment value of EUR 94 million.

Belgium

• Aarschot – Nieuwlandlaan: a building of 8.500 m² for Distrilog on a site of 15.000 m². The premises have been let for a fixed period of nine years since mid-March 2009.

• Courcelles – rue de Liège (phase I): a total of 30.000 m² of warehouses can be built on this site in two phases. April 2009 saw the completion of 10.000 m² out of the total of 20.000 m² for the first phase. They have been pre-let to Blount Europe NV, part of the US Group Blount Inc. The remaining 10.000 m² of the first phase were completed at the end of the year.

• Nivelles – chaussée de Namur: a semi-industrial building of 10.000 m² that was renovated.

France

• Lille (Libercourt) – Zone Industrielle – Le Parc à Stock (phase I): a new construction project totalling 60.000 m². The first phase comprises 36.000 m², of which 24.000 m² have now been completed for ID Logistics. The remaining 12.000 m² still under construction, of which half have likewise been pre-let to ID Logistics, will be completed early in 2010.

• Lille (Seclin) – rue Marcel Dassault: a new construction project of 12.000 m² consisting of three cells, of which two have been let to PSA Peugeot Citroën. The third cell was completed in the first half of 2009 and is still up for rent.

Netherlands

• Raamsdonksveer – Zalmweg: a ‘sale and leaseback’ transaction under which WDP acquired a site of 7.000 m² from the Palm group. The site has been let to Beer and Selected Beverages (BSB), a logistical alliance of beverage manufacturers including Palm that supplies the Dutch market. BSB has established its distribution centre for the Netherlands on the site and is renting this for a fixed ten-year period. WDP also acquired the adjacent site of almost 4.200 m² on which it completed an expansion of 2.760 m² for BSB at the end of June 2009.

• Ridderkerk – Handelsweg: the capacity of the Univeg distribution centre for fruit and vegetables for various Dutch retail chains was virtually doubled by a warehouse on several levels.

• Venlo – Edisonstraat (phase I): the construction of a new logistics centre of 28.000 m² on a site of 50.000 m² that was acquired in November 2007. An old Philips plant was located on this site, which was vacated when its owner, Belden, realigned its activities and established its EMEA headquarters on another part of the site. As the demolition and soil remediation of the site took considerably longer than initially expected, WDP was not able to commence construction work before the start of 2009. 13.000 m² were completed at the end of 2009.

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