AEW has secured a plot of land to develop a multi-let light industrial and urban logistics scheme in Hanover, Germany. Hanover City DC will provide circa 32,800m² of modern Grade A space across five buildings with the flexibility to let up to 12 units which are targeted at small and medium-sized enterprises and established operators looking for smaller scale urban logistics space. Designed to a high specification, the scheme will include smart metering, LED lighting, e-charging stations, and is targeting a DGNB Gold rating. The project is being developed by Panattoni and is due for delivery in spring 2023.
Located in the submarket of Hanover Braunschweig just a few kilometres from the city centre, Hanover City DC is situated in an excellent micro location for logistics with circa 470,000 inhabitants located within a 10km radius and c. 2.5 million within a 50 km radius. The area boasts good infrastructure links providing quick access to the motorway network servicing Hanover and Lower-Saxony and local transport, including the Misburg underground station which is approximately 650 metres from the property.
Ludovic Bernini, Fund Manager of LOGISTIS at AEW commented: “The acquisition of Hanover City DC is an important milestone for LOGISTIS, establishing a presence in a strategic location for industry which is within the major logistics market of Northern Germany. This prime development also grows the number of smaller units available to occupiers in LOGISTIS’s portfolio. The scheme will be developed on a speculative basis in line with our other City DC projects in Germany and we are confident that Hanover City DC’s attractive location will satisfy the strong occupier demand in this area where there continues to be a lack of good quality supply.”
