Pan-European logistics property specialist Verdion has secured a strategically located industrial site in the Rhine-Ruhr metropolitan region. This acquisition is for the development of a modern urban logistics property for Verdion's second European logistics fund, VELF 2. The project in Gelsenkirchen has a value potential of 68 million euros. Verdion, acting as investor, developer, and asset manager, is now focusing on the planning and approval process for this speculative development, which will operate under the name 'LiteHub'.
The undertaking involves the construction of a total of 37,675 square metres of urban logistics space, distributed across two independent building complexes. The spaces are flexibly designed, ranging from 2,945 square metres to 20,098 square metres, with the option to be divided into up to ten independent units. The development will be realised according to EG40 and DGNB-Gold standards, underlining the high requirements for energy efficiency and sustainability. The 6.67-hectare plot, a former steel wire factory site, was acquired from Bekaert, a global leader in steel wire processing.
Location and Strategic Relevance
The location on the northern outskirts of Gelsenkirchen, in close proximity to the A42 motorway between Duisburg and Dortmund, characterises the site. This connection allows for quick access to Duisburg Port and Essen city centre within less than 30 minutes. Moritz Heißenberg, Executive Director and Head of Germany at Verdion, stated that this acquisition expands the development pipeline in Germany and secures a strategically excellent site in the heart of one of Europe's largest industrial and consumer markets. He emphasised the excellent transport links and access to a broad customer base, which create optimal conditions for high demand, particularly from e-commerce, light industry, and last-mile distribution sectors.
The project in Gelsenkirchen represents Verdion's strategy to develop modern, flexible logistics spaces in prime urban locations where space is scarce and demand is accordingly high. Oliver Kemper, Head of Investment – Germany at Verdion, added that this acquisition precisely fits the investment strategy for VELF 2. The fund continues to focus specifically on brownfield sites in established urban markets, where added value can be generated through new development. Gelsenkirchen offers very good conditions for this, as strong demand meets the opportunity to transform a previously underutilised industrial site into modern, flexible logistics spaces.
Expansion of the VELF 2 Portfolio
The transaction in Gelsenkirchen is already the third acquisition for the VELF-2 fund in Germany within the past six months. In June, Verdion acquired a brownfield site in Munich, where a LiteHub with a value potential of 96 million euros is also being speculatively developed. Already in February, the company had secured a former production site in northern Cologne. There, an urban logistics centre worth 95 million euros is being built, which will comprise both LiteHub and CoreHub spaces. For VELF 2, a brownfield site in Rastatt on the German-French border was also acquired in June of the previous year. A logistics property with a value of 45 million euros is to be speculatively developed there, with completion planned for July 2027. The building concept in Rastatt is also aligned with the requirements of potential users from the automotive industry.
The Verdion European Logistics Fund 2 (VELF 2) closed at the end of 2024 after raising over 300 million euros in equity. The fund benefits from Verdion's broad team, which covers all services from planning and development to operation, as well as its technical expertise in refurbishments and project developments in key European markets. The investment focus is primarily on Germany, the Netherlands, Denmark, and Sweden. The transaction in Gelsenkirchen was brokered by JLL.
