SEGRO acquires 19 hectares of land in Düsseldorf from thyssenkrupp
SEGRO has acquired a 19-hectare site in Düsseldorf from various subsidiaries of thyssenkrupp AG
It was agreed not to disclose the purchase price. Part of the site will continue to be used by thyssenkrupp Materials Services companies for a period of two to four years.
“We are very happy to be able to add another strategically important location to our existing portfolio in Düsseldorf. We want to develop our new location in Flingern in phases into a modern business park - typically SEGRO with attractive architecture, sustainable construction and flexible rental space for companies with different usage concepts. The urban master plan will be coordinated in close cooperation with the city of Düsseldorf,” says Tim Rosenbohm, Director Light Industrial at SEGRO in Germany.
The new area will be SEGRO's third business park in Düsseldorf
SEGRO has already successfully developed the two business parks “SEGRO CityPark Düsseldorf” on Fichtenstrasse and “SEGRO Park Düsseldorf-Süd” on Bonner Strasse in Düsseldorf. Both areas offer urban production, storage and leisure areas and were built according to modern standards for sustainable, ecological and energy-conscious construction. They have a broad mix of users from different industries. The area that has now been acquired is located between Königsberger Strasse and Hoeherweg in the Flingern district to the east of Düsseldorf city centre, just one kilometer from SEGRO CityPark Düsseldorf.
“Now that our third urban business park is under development and that our German headquarters are located, Düsseldorf is our most important market in Germany. Here, a high demand for modern and centrally located commercial space meets an extremely limited supply,” says Rosenbohm.
CMS, CDM Smith and Ecovis advised SEGRO on the due diligence for the transaction.
SEGRO is a UK Real Estate Investment Trust (REIT) listed on the London Stock Exchange and on Euronext Paris. SEGRO is a leading owner, manager and developer of modern logistics and commercial real estate. The company owns or manages 9.6 million square meters of space valued at €24.7 billion and serves clients across a wide range of industries. The company's properties are located in and around major cities and major transport hubs in the UK and seven other European countries.
For over 100 years, SEGRO has been developing areas that make extraordinary things possible. From modern logistics real estate, primarily used as regional, national and international distribution centers, to urban commercial real estate near major population and economic centers, the company offers high-quality real estate that supports the success of SEGRO's clients.
Commitment to caring for society and the environment is an integral part of SEGRO's purpose and strategy. The Responsible Business Framework, Responsible SEGRO, focuses on three long-term priorities that the company believes can make the greatest impact: driving low-carbon growth, investing in local communities and the environment, and promoting of talents.