Verdion has secured Rockspring Property Investment Managers as funding partner for Verdion Airpark Berlin, the proposed 1 million sq ft (92,000 sq m) logistics scheme in Berlin. The scheme has an end value exceeding €85 million.
Located within two kilometres of the new Berlin Brandenburg Airport, which is currently under construction, Verdion Airpark will be developed in a number of phases and will comprise logistics warehousing units ranging from 54,000 sq ft (5,000 sq m) to 430,000 sq ft (40,000 sq m).The purchase of the land, which comprises 16 hectares of fully serviced logistics development land, is now complete. Detailed permitting has commenced and completed units are scheduled to be delivered from 2015 onwards.
Stuart Reid, partner overseeing Rockspring Germany said: “This transaction reiterates Rockspring’s commitment to Berlin and our belief in the growing importance of strategic logistics sites in Germany which benefit not only from strong regional access, but which are also with easy reach of the city and airport. With Berlin’s projected growth and Berlin Brandenburg Airport expected to become one of Europe’s busiest airport hubs on opening, we consider this site to be one of the best in the region.”
Michael Hughes, CEO of Verdion, commented: “Verdion Airpark occupies an exceptional location adjacent to what will become one of Europe’s most important airports. Our commitment to this location is underpinned by the continued growth forecast for both the airport and the wider Berlin economy.”
Verdion previously developed 500,000 sq ft (46,000 sq m) on the adjacent land, known as Air Link Park, in 2012/2013. This scheme was successfully let to occupiers including Paraxel, Dachser and Unitax and the completed investment was sold in 2014.