Neuburg/Danube, August 31, 2015 – VIB Vermögen AG, a company specialising in commercial real estate project development and portfolio management, has completed to schedule the largest logistics centre that it has developed itself to date. This centre is located at the Interpark near Kösching/Ingolstadt, and has been entirely rented.
The commercial property entails a land area of around 95,000 sqm and a usable building space of approximately 55,000 sqm, of which 4,000 sqm comprises office, social and mezzanine areas. The investment volume amounts to around EUR 34 million. This state-of-the-art logistics centre is situated in the Interpark, one of Southern Germany's most important commercial parks. It is located directly adjacent to Ingolstadt, in the catchment area for the Munich and Nuremberg metropolitan regions.
As of the completion date, the property is fully rented to two clients of high credit standing. The rental yield amounts to an attractive 9.5 % given that VIB Vermögen has developed the property itself in a highly efficient manner. The premises were transferred to both tenants from the logistics and automotive sectors when the property was completed after a construction period of just nine months. The Interpark commercial park offers further potentials for development projects. VIB Vermögen has already secured additional plots of land for this purpose.
"The completion to schedule and complete rental of our new logistics centre represents a milestone for VIB Vermögen. The largest development project in our company's history to date underscores our expertise in independently realising commercial properties on attractive terms. This new construction has also allowed us to exceed the level of one million square metres of rentable area within the VIB Group for the first time," comments Ludwig Schlosser, CEO of VIB Vermögen AG.
This latest addition to the portfolio was realised in alignment with the company's strategy of expanding on a controlled basis the proportion of commercial properties that it develops itself, thereby boosting both income and the company's value. VIB Vermögen makes recourse to a strong regional partner network in order to realise such projects that are focused on Southern Germany, a region enjoying strong economic growth.
With the completion of this new logistics hall, VIB Vermögen is expanding its real estate portfolio to 103 properties as of August 2015. A film about our logistics centre can be found on our website under "Property Snapshot".
Data and facts about the logistics centre in the Interpark
Kösching (near Ingolstadt)
Usable building space
around 55,000 sqm