New logistics centre for Leroy Merlin
The Spanish company Montepino has reached an agreement with Leroy Merlin to build the largest logistics platform in Portugal for the French multinational DIY and garden centre group Leroy Merlin.
It will create a central logistics and warehousing hub from which goods will be distributed to all of its stores nationally.
In a communiqué the company says that works will begin in January and the logistics centre will be up and running in November 2024.
This project is the largest investment in logistics in a decade in Portugal and represents the entry of Montepino in Portugal in its first investment foray outside Spain. The company is managed by the Valfondo Group, one of the major logistics owners in Spain.
The plots of land were bought by Valfondo and Bankinter in October for €150 million. The plots had belonged to Novo Banco.
The parcel of land purchased by Valfondo and by Bankinter have an area of 414,000m2 and is next to the North Lisbon logistics platform in Castanheira do Ribatejo. The logistics centre that is to be built for Leroy Merlin will cover an area of 105,500 thousand square metres.