European logistics property specialist Verdion has commenced the speculative development of the remaining space at its ExpoPark site in Hanover, northern Germany.
Verdion ExpoPark Hanover will comprise 46,706 m2 of distribution, mezzanine and office space, with completion planned for early summer 2021.
The scheme will be available as one unit or subdivided into four smaller units of 9,200 m2 to 10,500 m2 together with ancillary offices and mezzanine space, 40 docking positions and parking for cars and HGVs, according to the firm.
André Banschus, executive director at Verdion, said: 'Our decision to speculatively develop reflects our strong confidence in the investment fundamentals of logistics real estate in Germany.
'There is high demand for space and this Hanover location is ideal for e-commerce, with tram connections for the local workforce and fast access to the motorway network for the efficient movement of goods.'
The site is located on the south-eastern edge of Hanover city centre, close to the Hannover Messe exhibition venue and next to a 59,821 m2 built to suit logistics facility already developed by Verdion for Arvato Bertelsmann.
The building is being constructed to an energy efficient design aiming for DGNB Gold certification on completion. Verdion said it would continue to manage the building long-term.
BNP Paribas and CBRE are brokers for the scheme.
