Industrial and logistics specialist VGP has won the bid to redevelop the former shipyard La Naval at the estuary of Bilbao, Spain.
The project entails redevelopment of 280,000 sq m of land in the municipality of Sestao. The site includes the existing shipbuilding areas, dry docks and the former shipyard offices.
The acquisition will take place according to a framework set out in the asset liquidation plan of Construcciones Navales del Norte. The process began in December 2020 and the sale is subject to judicial approval.
VGP’s plans for a modern industrial park do incorporate existing elements such as cranes, waterways and protected buildings in order to preserve iconic features of the former shipyard.
Public access to help integrate with community
The developer also plans to create a publicly accessible esplanade along the waterfront for cyclists and pedestrians. This will include exercise areas, parks and allotments in an attempt to integrate the development with the local community.
“Over the years, VGP has developed many sites comparable to the site of La Naval in Bilbao, whereby the main focus has always been to serve mainly local companies and traditional industries with modern, state of the art new facilities,” said VGP’s CEO Jan Van Geet.
The company plans to achieve a high level of sustainability and aims to obtain at least a BREEAM Very Good certification for the development. For example, roofs of the warehouse buildings will be equipped with photovoltaic panels. Overall, the company plans to achieve carbon neutrality by 2025.
VGP has been present in Spain since June 2015, since when it has acquired more than 1 million sq m of industrial land in Madrid, Barcelona, Zaragoza, Valencia, Sevilla and now Sestao.