Verdion has started the development of a new €30m logistics facility on the outskirts of Nettetal near the German-Dutch border and Rhine-Ruhr metropolitan region. The speculative project is part of the value-add strategy of the Verdion European Logistics Fund (VELF) 1, which invests in last-mile logistics and value-add assets in northern and central Europe.
On completion in Q2 2023, the new facility at Herrenpfad-Sud 40 will offer 21,560m² of Grade A logistics space in up to four units, with 18,575m² of warehousing with 20 loading bays as well as 950m² of office and mezzanine space.
Verdion is targeting a DGNB Gold sustainability certificate for the highly energy-efficient building, which will not be using fossil fuels as a primary energy source and provides charging points for electric vehicles and cycle parking for a carbon-neutral commute. Additionally, the roof and electrical infrastructure will be prepared for solar energy generation. The site itself is located in the established Herrenpfad Sud industrial estate in Nettetal between Monchengladbach and Venlo, directly on the German-Dutch border and within striking distance of Germany’s largest conurbation, the Rhine-Ruhr metropolitan region.
Florian Stobe, Head of Investment – Germany at Verdion, said: “Within the framework of Verdion’s sustainability strategy, we determined that rather than modernising and extending the existing building as originally planned, a full-scale redevelopment would better serve this market and meet the fund’s ESG standards. We are already seeing a great deal of interest in the new space, based on its strategic location and the strength of demand for last-mile distribution space for customers in the Rhine-Ruhr metropolitan region. With this strategy in Nettetal and other assets in the VELF 1 fund coming forward, we are creating value at the same time as providing new space in undersupplied markets.”