Swiss Life Asset Managers has nearly doubled the size of a logistics development site in northern Germany with the acquisition of an additional 70,000sqm ahead of the first construction phase.
The manager said it has expanded its Hanover North I logistics project site in Wietze, near Hanover, to around 147,000sqm to provide greater flexibility for occupiers and respond more precisely to individual requirements.
No financial details were disclosed.
Ingo Steves, managing partner logistics at Swiss Life Asset Managers, said: “The fact that we have been able to expand the project by acquiring additional land even before construction begins demonstrates the confidence placed in our development and delivery capabilities, and reinforces our position as a trusted partner in logistics real estate development.
“This step highlights the ability of our pan-European logistics platform to deliver modern, future-ready logistics locations in strategic settings that create lasting value for occupiers, local communities and investors alike.”
Moritz Löbbert, development director logistics at Swiss Life Asset Managers, said: “We are confident of the location’s potential and are expanding our project accordingly.
“The additional land provides greater flexibility for our customers and enables us to respond even more precisely to their individual requirements. This expansion supports a customer-centric development approach and strengthens the long-term viability of the project as a whole.”
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