Rockspring Property Investment Managers has completed the purchase of 16 hectares of fully serviced logistics development land immediately north of the current Schönefeld airport in Berlin.
Rockspring Property Investment Managers has completed the purchase of 16 hectares of fully serviced logistics development land immediately north of the current Schönefeld airport in Berlin.
The €13.5 mln land transaction has been undertaken in partnership with the logistics and industrial developer, Verdion.
Rockspring will provide full equity funding for the development of the proposed 92,900 m2 logistics scheme, which is expected to have an end value exceeding €85 mln, while Verdion will develop and market the logistics park, named Verdion Airpark.
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 5,000 m2 to 40,000 m2. Detailed permitting has commenced and completed units are scheduled to be delivered from 2015 onwards.
Verdion has previously developed the adjacent 46,000 m2 Air Link Park, where tenants include Paraxel, Dachser and Unitax. Marketing of the Verdion Airpark will commence shortly.
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.'