Fine wines storage facility at Luxembourg freeport
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Luxembourg, part of the economic union called Benelux, will soon have its own freeport. The Luxembourg Freeport (LFP) coming up at the Findel airport will be a four storeyed building of approximately 22,000 sq m. The facility represents an investment of over €50 million and will be used to store valuable goods originating within or without the European Union such as works of art, fine wines, precious metals, jewels and diamonds, vintage cars, etc.
Speaking exclusively with Financial Express Online, David Arendt., director, LFP informed, "We will have four wine cellars with a capacity to store 750,000 bottles of fine wines. As climate is so important for such quality wines, the temperature and humidity will be maintained at optimal conservation levels (13-16 degrees celsius). We will also have a quality assurance programme certified and verified by an independent audit firm. The facility is due to open in September next year. Wine will be accepted for storage as of that date."
He explained that as LFP is near the airport, the facility will also be equipped with vibration captors to minimise or eliminate vibration, which is a major enemy of wine. "We will also be organising wine tasting events at the facility," he added.
The LFP will be a logistics hub for managing and storing, with no time limit, valuable goods under a regime of suspension of VAT and customs duties. The compound and facility will be highly secure and will offer storage rooms, vaults and safes of various sizes which can all be customised and fitted for storage of valuable goods under appropriate temperature and humidity conditions. Works of art existing in electronic format (videos, photos, etc) can also be stored in dedicated data rooms. Specialised forwarders and professionals who will be the tenants of LFP will offer a whole range of storage amenities and related services such as customs handling, crating, shipping, framing, restoration, condition reports, photographic documentation,art advisory and maintenance, evaluations and private showrooms.
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