Verdion plans cold store near Hanover with British investor

23/11/2018

The British investor Tritax EuroBox says it is taking over the development of a distribution facility from Verdion. The facility is to be built on a parcel of land in Wunstorf, 20 km from Hanover, and has been pre-let to Havi Logistics GmbH. Tritax is financing the project, subject to the building permit which has yet to be issued, with €27.5mn, corresponding to a net initial yield of 4.9%. Havi intends to open a main distribution center and cold store for convenience food at the nearly-17,000-sqm site. Only 25% of the land area will be needed for the building, so that the logistics facility may be further expanded. This is the seventh investment for the company, which specializes in logistics real estate on the European continent.


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