European logistics property specialist CTP is to develop a major new high-tech business park in Mülheim, Germany, following the acquisition of a 335,000 m2 site from French multinational manufacturing business, Vallourec.
CTP will transform the brownfield site that housed an industrial rolling mill, into an innovative new modern business park that will provide over 160,000 m2 of R&D, laboratory, co-working and industrial and logistics spaces for companies in high-growth technology-focused sectors including life sciences and IT manufacturing. Spaces will also be specially created to suit the needs of SMEs as well as larger businesses.
Work to build the park is expected to begin in 2025.
The new complex will feature CTP’s Clubhaus concept, providing a mix of leisure offerings for occupier employees including amenities such as restaurants, cafes, shops, spaces for exercise, events, socialising, and medical facilities, all within landscaped gardens set alongside cycle paths.
Earlier this year, CTP announced it would invest €300 mln to expand its portfolio in Germany over the coming years, as it looks to double the size of its Europe-wide network of business parks by the end of the decade.
CTP has seen a surge in demand from high-tech businesses across its European portfolio, with companies seeking to take advantage of the continent’s highly educated workforce and stable business environment. Many international businesses are also ‘nearshoring’ the manufacturing of high-tech products to Europe to be closer to where their customers are located and reduce supply chain risk. New EU regulations such as the European Chips Act are also driving companies to manufacture within the EU.
Timo Hielscher, managing director for Western and Eastern Germany at CTP, commented: 'Our new CTPark in Mülheim will be a shining example of a new environment we have created from scratch, showcasing how we invest in places to enhance communities, local infrastructure and biodiversity. We are looking forward to moving ahead with construction and unveiling more details about the park in the near future.'
CTP has been active in Germany in recent months. In December 2023 it announced the sustainable transformation of a 60,000 m2 (GLA) urban business park in Krefeld, also in the North Rhine-Westphalia region. And last summer, CTP announced plans to transform a 130,000 m2 site in Wuppertal in west Germany, into a new quarter for research and development alongside a hotel.
CTP entered the German market in 2022 with the acquisition of Deutsche Industrie REIT-AG, which had a 1.6 million m2 portfolio, for around €800 mln. CTP now has a team of 50 employees in three offices across Germany, and 33,000 m2 of industrial and logistics space under development and a 155,000 m2 land bank.
