Clarion Partners Europe buys Panattoni Logistics Park for €75 million

PV development at Panattoni Logistics Park
Panattoni Logistics Park

Specialist investor Clarion Partners Europe has acquired Panattoni Logistics Park in Voerde, Germany, for around €75 million.

Totalling 66,930 square meters of Gross Lettable Area across two Grade-A properties, the investment has been made on behalf of one Clarion Partners Europe’s co-mingled funds. The deal takes its deployment in Continental Europe’s logistics market since June last year to around €500 million.

Developed by Panattoni between 2021 and 2023, the DGNB Gold-certified properties are currently split into six units. These are 100% occupied by Flender GmbH, WM Group GmbH and MTDE GmbH, with a blended WALB of seven years.

Panattoni Logistics Park to feature PV system

The park’s environmental credentials will be enhanced by the installation of a Photo-Voltaic (PV) system with a peak capacity of 6.86 megawattpeak by the end of 2024. The forecasted power generation of more than 5.8 million kilowatt hours per year will provide electricity for around 2,300 two-person households.

The development of Panattoni Logistics Park saw the regeneration of a 112,000 square meter brownfield site and was one of the largest projects of its type in the Lower Rhine. Around 19.3 million people live within a 90-minute drive time of the logistics park.

Voerde benefits from its proximity to Europe’s largest inland port in Duisburg and several key arterial routes, including the A3, which connects Duisburg with Dusseldorf, Cologne and also Frankfurt and can be reached in 10 minutes’ drive time.

Thorben Schaefer, Senior Director at Clarion Partners Europe, says, “This was a rare opportunity to acquire a high-quality, newly developed logistics park at an attractive income profile; near full annual CPI indexation, with medium term reversionary potential. Vacancy rates in the Rhine-Ruhr remain close to historical lows due to a limited development pipeline, which should drive future rental growth.”

Rory Buck, Managing Director, Clarion Partners Europe, adds, “Germany remains one of our high conviction markets, with continued e-commerce growth and reshoring efforts underpinning occupier resilience. The broader logistics sector’s fundamentals remain highly compelling, which, coupled with our local market intelligence and investment firepower, is driving our significant acquisition programme.”

Clarion Partners Europe was advised by Goodwin Procter, CBRE, Counsel and Colliers.

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