Invesco Real Estate has acquired a circa 156,000m² site in Hainichen, south of Dresden. The plan is to develop it in partnership with the project developer FUCHS Immobilien into two sustainable grade-A logistics warehouses by end of 2022. Going forward, these will be marketed under the project name LZM - Logistics Centre Central Saxony (LZM - Logistikzentrum Mittelsachsen).
The acquisition of the plot carried out for Invesco’s European Value-Add Fund II took place in summer 2021. In total, the two facilities will cover over 73,000m² of flexible and innovative logistics units with high-quality standards and, on completion, be one of the newest and largest logistic parks supporting the Dresden area. The facility is targeting DGNB Gold certification, and the development of the project will be realized by using the FUCHS system construction method with serially prefabricated components in efficiency class BEG 40.
Saxony has become a valuable location for Europe-wide distribution, with nearby Leipzig airport the second largest in Germany. The Hainichen site is located adjacent to the A4 motorway in the Leipzig/Dresden/Zwickau triangle. It is near the Polish border, close to Krakau and with Prague around 160 km away. Approx. 6 million consumers can be reached within a 70 minutes drive.
Felix Richter, Director - Transactions, Invesco, said: “Currently there are no speculative logistics developments along the A4 between Chemnitz and Dresden even though there is very high demand for high-quality units in the region. We are delighted to be working with FUCHS Immobilien on this new landmark ESG-project which offers a highly attractive value-add profile for our investors. High energy efficiency, state-of-the-art equipment, sustainable construction and employee well-being are the core elements of the new logistics location in the middle of Saxony."
Robert Fuchs, Managing Director at FUCHS Immobilien, added: "The FUCHS principle lies in deep value creation - from the conceptual design, the planning, the turn-key construction and all the way to letting and building management. We are among the first providers on the market that can also offer non-residential buildings in efficiency class 40 as standard. For the benefit of tenants, this ensures low incidental costs and a reduction of the CO2 footprint.”
