26 September 2023, Porto, Portugal: VGP, a European owner, manager and developer of high-quality logistics and semi-industrial real estate, announces today the start of construction of VGP Park Montijo, the Group's third project in Portugal.
VGP Park Montijo, with a total land area of 85,014 m² offers ca. 31,400 m2 of lettable area, suitable for logistics, industrial and last mile purposes. The park is located on Estrada Nacional nº 5, next to the A33 and A12 junctions, 18 km from the center of Lisbon. Both motorways provide a privileged connection with the A2 and A1 motorways, in addition to allowing quick access to Lisbon and the airport, via the Vasco da Gama bridge.
At the start of the project, VGP Park Montijo is already pre-leased in 42% of its total area, with 18,000 m2 still available for rent, in areas that can range from 5,000 m² (minimum surface), up to the entire available space for more personalized solutions for large operations. The facilities offer high quality conditions for logistics, storage, commercial activities and light-industrial operations.
The construction of VGP Park Montijo has an estimated timeline of 12 months. VGP's ambition for the project is to obtain the BREEAM ‘Excellent’ certificate, continuing to strengthen the group's strategic commitment to sustainability.
This project is the third for the VGP Group in Portugal, following VGP Park Santa Maria da Feira in 2019, which was leased to Rádio Popular, and VGP Park Loures, the first VGP project in the Lisbon metropolitan area that is 100% dedicated to last mile logistics. VGP Park Loures has been leased to DPD and DHL, and its delivery is scheduled for this year.
José Ferreira, Country Manager of VGP Portugal said: “VGP Park Montijo is another important step towards the growth of our operations in Portugal, particularly in the Lisbon area. We started the construction works with a reputable first tenant and we are confident that we will soon lease the remaining area. Our strategy remaines the same in this project, as in the previous ones in Loures and Santa Maria da Feira, with a location close to urban centers, a project with high construction standards and a focus on sustainability. We remain focused on our growth and always within the parameters and requirements that fit our strategy.”