Goodman continues to invest in key logistics hubs across Europe, with the expansion of its activities at the port of Hamburg, where it has acquired a 35,000 m² existing property in the Altenwerder Freight Village – one of Germany’s main logistics hubs in the immediate vicinity of the container terminal. It also plans todevelop 12,000 m² of new logistics space at the 81,000 m² site. Goodman’s total investment value in the 35,000 m² facility and the expected built out value of the 12,000 m² site is over €30 million.
The 35,000 m² property is currently leased on a long-term agreement to a Danish logistics service providerand will become part of the Goodman European Logistics Fund (GELF) portfolio, which is managed by Goodman.
“The acquisition at the port of Hamburg is part of our long-term strategy of developing and acquiring prime assets in strategic logistics locations across Europe,” says GELF Fund Manager Emmanuel Van der Stichele. “Over the last number of years, we have been working on strengthening our position in the Hamburg area, one of the largest ports in Europe. This resulted in the opening of our Hamburg office several years ago as well as the acquisition of this and other assets in the region. As a high-quality property in a strategically important location, the property in Altenwerder meets the requirements to which all our investments must adhere.”
In the course of the acquisition, GELF also secured the opportunity to develop an additional 12,000 m² of logistics space on the site, which can be leased in smaller units. For logistics service providers, the site offers trimodal connection to road, rail and the Altenwerder container terminal.
“We are pleased to invest at the Altenwerder Freight Villagein the western part of the Port and look forward to commencing another development in the key Hamburg logistics market. We expect considerable demand for space in the Port of Hamburg, and with the potential to develop and additional 12,000 m facility, we are ready to meet that demand,” explains Christof Prange, Head of Business Development Germany withresponsibility for the Hamburg market.