Montea has acquired the former Euro Shoe site in Beringen through a contribution in kind. With this acquisition, the group further expands its presence in a strategic logistics region along the E313 and E314, with smooth connections to Antwerp, Brussels and Liège. In addition, the location has direct access to the Albert Canal, which strengthens the multimodal access and offers extra flexibility for future users.
The site has a real estate value of 19.2 million euros and offers an expected net return of at least 7% when rented at market rental value. According to Montea, negotiations with potential tenants are at an advanced stage.
The site covers 53,475 m², with a warehouse of more than 20,000 m² and 2,500 m² of office space. The building, completed in 2005 and renovated in 2023, has ample outdoor parking and offers opportunities for further expansion. According to Country Director Belgium Xavier Van Reeth, the acquisition confirms the importance of Limburg as a distribution hub: “With this investment we are taking over a site in an ideal hub for transport and distribution, with room for growth.”
The transaction took place through the issuance of 271,672 new Montea shares, good for a capital increase of more than 19.19 million euros. The shares were priced at 70.66 euros, based on the average closing price of the past 30 days. After the operation, Montea’s total issued capital amounts to 476.95 million euros, represented by 23,402,884 shares, each good for one voting right.
