Verdion, Europe’s specialist logistics developer and Rockspring Property Investment Managers LLP (“Rockspring”) have secured a third pre-let at their €90m Verdion Airpark development in Berlin. The letting is to the Berlin-based business PUK Group GmbH & Co. KG.
The global metal processing company has taken Unit 2.1 which comprises a 5,112m² (55,027ft²) logistics unit, with approximately 259m² (2,788ft²) of office and ancillary space.
This is the third letting at the Verdion Airpark, Berlin development, which is being undertaken in partnership with a discretionary fund managed by Rockspring. This year 5,900m² (63,500ft²) has been let to Dachser and a German e-commerce company will occupy a 15,100m² (162,600ft²) warehouse, with a 600m² (6,500ft²) mezzanine and (1,800m²) 19,400ft² of office accommodation.
Verdion’s CEO Michael Hughes comments, “We are really flying with this development. Phase 1 is now fully let prior to completion, demonstrating the strength of the location of Verdion Airpark Berlin and the demand for top quality logistics space.”
Stuart Reid, Rockspring Partner overseeing Germany said, “We took the view to develop some 30,000m² (325,000ft²) speculatively in 2015. The third letting, prior to completion, has got the park off to a great start and fully supports our belief in the region, the product and the demand.”
Verdion Airpark is located in close proximity to Berlin’s city centre and is within two kilometres of the new Berlin Brandenburg Airport and adjacent to key road and rail infrastructure. The 92,000m² (990,300ft²) lettable scheme will be delivered in phases, with both speculative and ‘built to suit’ opportunities for warehousing units ranging from 5,000m² (54,000ft²) to 40,000m² (430,000ft²). The units have been flexibly designed to the highest specification to meet the strong market demand from 3PLs, retailers and e-tailers seeking urban logistics space. The development has an expected end investment value exceeding €90m.
