CTP announced plans to develop a modern 60,771 sqm logistics park through a partial refurbishment of an existing business park in Krefeld West, Germany.
At this location, CTP will develop the modern urban business park CTPark Krefeld, comprising 31,796 sqm of new industrial and logistics space on which construction will start in 2024. This will be followed by a 29,002 sqm redevelopment of the existing 15,708 sqm logistics warehouse and 2,149 sqm of office space, which is currently let. The formal building request is scheduled to be submitted in the first quarter of 2024, coinciding with the start of demolition works.
Meeting CTP’s ambitions for green building certifications and energy efficiency standards, the new park will be constructed to meet the BREEAM Very Good standard or better, incorporating industry-leading technological and environmental specifications to mitigate any negative impacts on the environment. The building will be equipped with rooftop PV’s for a fossil-free energy supply and reduced CO2 emissions during operation. The development site is largely made up of brownfield areas and will involve refurbishment of the existing buildings which will be partially preserved, helping to reduce the impact of the new park on the environment.
Revitalising an underused site, the new park represents an important investment in the region and will help to build strong local communities. This is a key part of CTP’s development strategy, involving close cooperation with local municipalities to provide opportunities to grow in partnership with clients. Plans for the new Krefeld logistics park have already garnered the support of the local municipality, Krefeld city council. In addition to the industry-leading technological and environmental specifications planned for the new park, the site will also benefit from good transport connections, being near the highly frequented St. Töniser Straße, providing access to the A44 and A40 motorways and Krefeld city centre.
Timo Hielscher, Managing Director of West and East Germany at CTP commented: “Our strategy as a portfolio holder focuses on important metropolitan areas. This naturally includes the federal state of North Rhine-Westphalia as a leading business location in Germany and the city of Krefeld in particular, which has become one of the strongest commercial locations in the region in recent years. We are delighted to be able to develop the site with the wealth of expertise available to us at CTP and to include it in our ever-expanding portfolio.”
“It is important for our city to remain competitive and develop sustainably at the same time. Maintaining and regularly updating our infrastructure and building stock is central to this. As a business location, we are therefore delighted about the general overhaul of the site on Töniser Strasse by CTP, who will be building a modern business park with state-of-the-art sustainability features here,” says Eckart Preen, Head of Economic Affairs and KREFELD BUSINESS. “Given the very positive experience with business parks in Uerdingen and Fichtenhain in recent years, I am convinced that the combination of hall and office space planned by CTP in the Krützpoort business park will also meet with high demand and ensure that new companies and jobs are attracted to Krefeld. That is why we at KREFELD BUSINESS will be very happy to actively support this project.”
In Spring 2023, CTP announced a €300 million investment in the coming years to grow its warehouse portfolio in Germany, with the company aiming to double the size of its pan-European network of business parks by the end of the decade.
CTP entered the German market in 2022 through the circa €800 million takeover and delisting of Deutsche Industrie REIT-AG, which had a 1.6 million sqm GLA portfolio on 3.9 million sqm of land. CTP now has a team of 50 across three offices in Germany, 33,000 sqm of industrial and logistics space under development, amongst others in Bremen, and a 155,000 sqm landbank.
