Den Otter Trucks buys Van Hool site in Lier after mix-up
The 30-hectare industrial site of bankrupt Belgian bus manufacturer Van Hool in Koningshooikt, Lier, has been sold for EUR 21.5 million to G.A. Den Otter Trucks B.V., a Dutch truck trading company. The sale, confirmed on June 19, 2026, was initially shrouded in confusion after Lier’s mayor mistakenly identified a Turkish bus builder as the buyer, as reported by HLN.
Context and background
Van Hool, a renowned Belgian bus manufacturer founded in 1947, was declared bankrupt in April 2024, resulting in the loss of 1,600 to 1,800 jobs. While Dutch firm VDL took over the bus division and Germany’s Schmitz Cargobull acquired the trailer operations, a 30-hectare parcel of land in Koningshooikt — originally purchased by the Van Hool family for expansion that never materialized — remained part of the bankruptcy estate.
For over two years, the site sat unsold until the bankruptcy curator put it up for auction on the Biddit online platform with a starting price of EUR 20 million.
The sale and the confusion
The bidding process ended on June 16, 2026, with a private party securing the site for EUR 21.5 million. The Flemish government also placed a bid of EUR 20 million but was outbid, signaling a rare interventionist move by the regional administration to secure industrial land.
However, on the morning of June 19, Lier Mayor Rik Verwaest (N-VA) announced that Turkish bus manufacturer Karsan had been the buyer. This proved incorrect. The confusion arose because Den Otter’s investment vehicle is named “Karsar” — closely resembling “Karsan” — leading to a miscommunication that spread rapidly.
Gerrit Den Otter, owner of Den Otter Trucks, confirmed to HLN that his company was the actual buyer. “Last week I saw on regional television that the sites were for sale. Such a large plot comes on the market only once in a lifetime,” he told VRT NWS.
Plans for the site
Den Otter Trucks, a family business founded in 1929 with equity of approximately EUR 3.5 million, has indicated it does not intend to speculate with the land. Wim Brillouet, director of Voka Mechelen-Kempen, told HLN: “He wants to go for a quick development and certainly does not want to speculate with the ground.”
A first meeting between Den Otter and Voka took place on June 19, with another scheduled for the following week. Den Otter has suggested that warehousing may be the most viable option, noting that “for production, Belgium has become an expensive location due to high wage costs.”
Voka, however, is pushing for high-tech industrial development, estimating that the site could generate between 1,250 and 8,600 jobs and up to EUR 1 billion in added value, depending on the type of industry that locates there.
Government reaction
Flemish Minister-President Matthias Diependaele welcomed the market interest. “We are pleased with the market interest, we mainly wanted to avoid the sites remaining fallow,” he told VRT NWS. The proceeds from the sale will go to Van Hool’s creditors.
Analysis and implications
The sale represents more than just a real estate transaction — it closes a significant chapter in Belgian industrial history. Van Hool, once a symbol of Belgian manufacturing prowess, saw its operations split among Dutch, German, and now Dutch buyers in a process that has reshaped the country’s industrial landscape.
For the Flemish government, being outbid on the site is a notable outcome. The administration’s rare direct bid on industrial land signaled a more interventionist industrial policy under Minister-President Diependaele, aimed at preserving land for high-value manufacturing rather than warehousing or logistics. The fact that a private bidder prevailed highlights the competitive nature of industrial real estate in the region.
According to Voka Mechelen-Kempen, the development potential of the site is enormous. Depending on the type of industry attracted, job creation could range from 1,250 to as many as 8,600 positions, with up to EUR 1 billion in added value. However, these figures depend heavily on whether high-tech manufacturing — rather than warehousing — ultimately occupies the land.
What’s next
The site currently remains undeveloped, and Den Otter is actively seeking tenants. Key uncertainties include whether the plot will be subdivided, the financial capacity of the buyer to develop the land, and the tension between Den Otter’s preference for warehousing versus Voka and local government’s desire for high-tech manufacturing.
A follow-up meeting between Den Otter and Voka is scheduled for the following week, where more concrete plans are expected to emerge. The outcome will determine whether this 30-hectare site becomes a hub for advanced industry or a logistics center — a decision with significant implications for employment and economic development in the Lier region.
The sale marks the final major chapter in the dissolution of Van Hool’s assets, closing a two-year process that saw one of Belgium’s most iconic industrial names dismantled and its pieces sold to domestic and international buyers. For the creditors, the EUR 21.5 million provides some recovery, though it represents only a fraction of the value the company once commanded.