LIP Invest, leading provider of special real estate funds in the asset class of logistics real estate in Germany, is acquiring a logistics centre under construction in Singen, Unter den Tannen 12 for one if its funds.
It is being realised by the experienced project developer Panattoni active throughout Europe. The completion is scheduled for the third quarter of 2022. Goldbeck Süd is acting as general contractor. In the acquisition process, LIP was supported legally by Ashurst LLP, tax-wise by Ebner Stolz and by ES EnviroSustain for the ESG due diligence. Cushman & Wakefield handled the technical due diligence as well as the construction controlling.
A modern logistics hall with a total lettable area of around 13,500 square metres is being built on the derelict site of a shopping centre. Of this, 10,700 square meters are hall space, 2,300 square metres for storage mezzanine and 500 square metres for office and social areas. The distribution centre has a hall height of 12.20 metres and a floor load capacity of 5 tons. Access is possible via 17 ramp gates with dock levellers as well as a ground-level gate. Outside, there are 2 truck and 32 car parking spaces as well as a bicycle shelter. In addition, 4,500 square metres will be created as a compensation area.
The logistics property, for which a DGNB Gold certification is planned, will be equipped with a partially greened roof. The remaining 75 percent of the roof area are statically designed for the installation of a photovoltaic system. LIP’s partner company AvanLog Solar will therefore set up a self-consumption system. The generated electricity can be used to operate the 4 available e-charging stations for cars and bicycles, among other things. The property can also be reached by public transportation.
The traditional transport and logistics company C.E. Noerpel, headquartered in Ulm, leases the new logistics centre in Singen on a long-term basis. The Noerpel Group is thus expanding its network to a total of 18 forwarding and logistics locations in Germany and Switzerland. In Singen, the logistics service provider will take on a logistics contract for a long-standing customer, a packaging manufacturer who produces packaging material for the food, healthcare and personal care sectors.
The region benefits from its proximity to Switzerland and is accordingly used a lot for cross-border traffic. The location is conveniently connected via the A81 and A98 motorways both in the direction of Switzerland and Stuttgart. Constance can also be reached quickly via the B33 federal highway. The Singen terminal is 3 kilometres away and can be used to transfer containers onto rail.
"Singen is an important location for contract logistics and is strongly characterised by owner-occupiers. This is reflected in the logistics property market by high demand with little available space. We are even more pleased that we were able to secure this high-quality new-build logistics property for our portfolio," says Bodo Hollung, partner and managing director of LIP Invest.