CTP's Ambitious Acquisition in Düsseldorf
CTP, recognized as Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has taken a bold step by acquiring an industrial site in Düsseldorf. This landmark deal, valued at €155 million, encompasses a massive area of over 830,000 square meters previously owned by Vallourec, a noted manufacturer of pipe systems.
A Vision for a State-of-the-Art Business Park
The acquisition, representing CTP's largest single land plot to date, comes with an investment plan exceeding €700 million. The goal is to convert this central urban site into a top-tier multi-user business park, catering to diverse industries such as manufacturing, research and development, and logistics. CTP’s commitment to ensuring sustainable and resource-efficient developments is evident in this project, as it focuses on revitalizing brownfield areas.
Supporting Sustainable Development
With increasing demand for high-quality and sustainable industrial parks driven by the rapid growth of sectors like semiconductor and clean-tech, CTP is strategically positioned to meet these needs. There is a growing emphasis on sustainability among occupiers to achieve their own environmental, social, and governance (ESG) targets, which CTP aims to address through innovative redevelopment of brownfield sites and refurbishing older industrial spaces.
Transforming the Local Economy
The development process for CTPark Düsseldorf is designed to attract next-generation businesses pivotal in transforming the German economy. This urban business park will feature facilities ranging in size from 1,000 square meters to 30,000 square meters, fostering a collaborative ecosystem conducive for various industries.
Voices from CTP Management
Alexander Hund, Managing Director Germany & Austria at CTP, highlighted, “This acquisition in Düsseldorf marks the highlight of our activities this year. It will be our largest and most extensive revitalization project in Germany to date, once again demonstrating our expertise in brownfield redevelopment.” He asserted that CTP's robust experience lays a solid foundation for achieving great outcomes in their endeavors.
Similarly, Timo Hielscher, Managing Director M&A at CTP Germany, expressed gratitude towards the City of Düsseldorf for their collaborative spirit in progression and stated, “We are eager to begin the development of CTPark Düsseldorf in the coming year.” Such initiatives showcase CTP's increasing confidence in the resilience and growth potential of the German economy.
Strategic Location and Future Development
The newly acquired site previously served as one of Vallourec’s main tube production facilities until its closure at the close of 2023. It boasts a strategic location northeast of Düsseldorf in the Rath district, offering exceptional connectivity to major transportation networks, with the A52 motorway just 300 meters away. Additionally, Düsseldorf Airport is only 2 km from the site, ensuring easy accessibility.
Completion and Upcoming Projects
Plans for CTPark Düsseldorf are already underway, with the acquisition process expected to finalize by the end of 2025. Initial construction is slated to commence within the same year, marking a significant milestone for CTP. The recent transaction enhances CTP's portfolio, as it follows a similar acquisition from Vallourec earlier for 335,000 sqm in Mülheim an der Ruhr, with construction set to kick off soon.
About CTP
CTP is not just Europe’s leading owner, developer, and manager of logistics and industrial real estate but is also committed to sustainability, owning a portfolio of 12.6 million square meters of GLA across 10 countries. All new constructions are certified to BREEAM Very Good or better, underpinning its dedication to establishing a sustainable business. CTP continues to exemplify the convergence of innovation and sustainability within the industrial real estate sector.
Frequently Asked Questions
What is the significance of CTP's acquisition in Düsseldorf?
This acquisition represents CTP's largest single land purchase and highlights its commitment to developing sustainable industrial and logistics properties in strategic locations.
How does CTP plan to develop the acquired site?
CTP plans to create a multi-user business park that accommodates various industries while emphasizing sustainable design and resource efficiency.
What industries will benefit from the CTPark Düsseldorf?
Industries such as manufacturing, research and development, and logistics will all find space tailored to their needs within the new park.
When is the completion date for the CTPark Düsseldorf?
The site acquisition is expected to finalize on December 31, 2025, with construction activities kicking off shortly thereafter.
What does CTP's commitment to sustainability entail?
CTP aims for all new buildings to achieve a BREEAM Very Good certification or better, promoting environmentally friendly practices and supporting ESG targets.
