CTP has agreed a €155m deal to acquire an industrial site spanning over 830,000m2 in Dusseldorf, North Rhine-Westphalia, from Vallourec, a manufacturer of pipe systems.
The acquisition, which is the largest single land plot CTP has ever acquired, will see CTP invest over €700m to transform the inner-city site into a best-in-class multi-user business park catering to a wide range of industries, including manufacturing, research and development, and logistics.
CTPark Dusseldorf will be developed to attract the next generation of businesses that are powering the transformation of the German economy, providing a range of different types of facilities, from 1,000m2 to 30,000m2, set within a state-of-the-art urban business park.
Alexander Hund, Managing Director Germany & Austria at CTP, said: “This acquisition in Düsseldorf marks the highlight of our activities this year. It will be our largest and most extensive revitalization project in Germany to date, once again demonstrating our expertise in brownfield redevelopment. Our Parkmaker Concept and decades of international experience form the foundation for this endeavour.”
Timo Hielscher, Managing Director M&A at CTP Germany said: “We would like to thank the City of Dusseldorf for the trusting collaboration and are already looking forward to advancing the development of CTPark Düsseldorf in the coming year. This is in addition to numerous other projects in our growing pipeline underlines our confidence in the German economy.”
The site was one of Vallourec’s primary tube production operations in Germany before it closed at the end of 2023. It is located in the northeast of Düsseldorf, in the Rath district, and is exceptionally well-connected to the local transportation network. The A52 motorway is just 300m away from the property, with the A44 and A3 only 4 km and 9km away, respectively. Düsseldorf Airport is 2km from the site, and the city centre is 8km away. Alongside sites in Wuppertal, Aachen, Krefeld, and Mülheim, this is the fifth industrial site CTP has acquired in North Rhine-Westphalia.
Planning for CTPark Düsseldorf has already begun, with the acquisition of the site scheduled to complete on 31 December 2025. Initial enabling work is set to begin on site in 2025. The deal is the second transaction between the two companies – in December 2023, CTP acquired a 335,000m2 site in Mulheim an der Ruhr for revitalization from Vallourec, with construction set to begin on that project next year.
Image source - CTP.
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