Delta Immobilienentwicklung, the German subsidiary of Delta Development Group in the Netherlands, has delivered the first turn-key project in Kempten-Allgäu (South-Germany). The building includes a production hall of 6.881 m², 2.663 m² of office space realized on a plot-size of 20.000 m². The construction started in December 2005 and the turn-key project was completed in October, which was in accordance of the schedule. The total investment volume was approximately €10 million.
The project was realized in favour of CFS Bühl GmbH, a 100% subsidiary of CFS Holdings BV from Bakel (Netherlands). CFS is a manufacturer of engines and packaging materials for the processing of the food industry and will assemble engines of rustproof steel in the new building in Kempten. CFS has signed a fifteen years rental contract.
Delta has reached agreement with AB CPFM Real Estate IV, which is part of a Catella Property Fund Management initiated joint venture with Arab Bank Plc to sell the property. The purchase price is around €9,7 million and the transaction was done in corporation with Van Gool Elburg Vastgoedspecialisten from Amsterdam.