P3, a leading developer and owner of logistics properties in Europe, has acquired a development plot in Bornheim near Cologne/Bonn from Delta Development. The acquisition was made as part of a forward funding transaction. P3 and Delta Development plan to jointly develop a modern logistics property on the brownfield site, which spans over 52,000 sqm. The total rental area of this property will be approximately 31,600 sqm.
The project focuses on the sustainable re-use of previously sealed land, thereby contributing to resource-efficient land development in the greater Cologne/Bonn area. The Bornheim location is characterised by its strategically advantageous position between the metropolises of Cologne and Bonn, combined with excellent links to the supra-regional motorway network. The property aims for BREEAM “Excellent” certification. Additionally, the installation of a photovoltaic system with a capacity of approximately 2,000 kWp is planned.
Focus on Flexibility and Sustainability
The planned logistics property will be divided into three separable units, making it attractive to a wide range of tenants – from medium-sized logistics service providers to large-scale distribution users. The facility's infrastructure includes approximately 60 car parking spaces, 13 lorry parking spaces, and 16 EV charging stations for cars. These features underscore the alignment with modern requirements for logistics locations.
Sönke Kewitz, Managing Director of P3 Germany, commented on the significance of the Bornheim location as an outstanding site in the dynamic Cologne/Bonn logistics market, one of Germany's most sought-after logistics locations. He highlighted the collaboration with Delta Projektentwicklung & Management GmbH as a strong partner, with whom a modern, future-proof product was created, and with whom joint development is also sought in the future. Peter Schultheiß, Deputy Head of Development at P3, emphasised the combination of high spatial flexibility and consistently sustainable construction as a particular feature of the project. He stressed that the separable units appeal to different user profiles and that the modern charging infrastructure and high-performance PV system ensure long-term economic and technical viability.
Edwin Meijerink, CEO at Delta Development Germany, explained that the project in Bornheim exemplifies what can be achieved through the cooperation of two partners with a clear vision and high quality standards. He described the revitalisation of the brownfield site into a modern logistics location as an outcome of which both parties can be proud, and expressed pleasure in finding an investor in P3 who shares the conviction that sustainable construction and economic success are compatible. Julian von Hodenberg, Senior Project Manager at Delta Development Germany, added that a project in Bornheim was successfully implemented last year and that cooperation with the municipality runs smoothly. He stated that the revitalisation of fallow land serves the benefit of municipalities, the economy, the population, and the logistics industry, which urgently needs suitable areas for supplying society.
Consultancy and Due Diligence
- —Legal advice for P3 on the transaction was provided by McDermott Will & Schulte.
- —Technical due diligence was conducted by TA Europe, Mull und Partner Ingenieurgesellschaft mbH, and Bockermann Fritze IngenieurConsult.
