VGP completes largest brownfield acquisition in company history near Frankfurt Airport, in the heart of Germany
Regulated Information - Inside Information
- VGP acquires over 700,000 m² from Opel, a brand of Stellantis group, in Rüsselsheim
- The redevelopment will be realised in close coordination with Opel and the city of Rüsselsheim
- The project represents one of the largest and most central industrial property developments in Germany
22 November 2023, 7:00 am, Antwerp, Belgium: VGP NV ("VGP"), a European provider of high-quality logistics and semi-industrial real estate, announces its largest brownfield acquisition to date. The Group successfully purchased three plots of land in Rüsselsheim am Main, strategically located at less than a 15 minutes’ drive from Frankfurt Airport.
With a total area exceeding 700,000 m², these plots were procured from Stellantis, a globally recognized automotive group and mobility provider. Stellantis is in the process of optimising its historic Opel production site in Rüsselsheim, a site with over a century of history. Initially, Stellantis will lease back the properties, gradually releasing them for redevelopment.
VGP’s vision for this acquisition involves the creation of a business park spanning approximately 350,000 m2 tailored for industrial companies and small and medium-sized value-added businesses. In line with its commitment to responsible development, VGP will operate with care to optimize the benefits of the development for the local community in close coordination with the responsible authorities.
This prime location offers unparalleled advantages, with Frankfurt Airport accessible within a 15-minute drive and through a direct connection from the railway station on the site. Furthermore the international finance centre of Frankfurt, Wiesbaden or Mainz can be reached within 20 minutes (direct connections from the railway station or by motorway), offering links to ICE railway stations. The site’s strategic location is further enhanced by direct access to the State-B43 through road and convenient proximity to four national motorways (A3, A60, A67, A671). Additionally, with direct harbour access to the river Main, the site boasts tri-modality transport potential.
VGP aims for an ambitious environmental approach for the park, committing to achieving a minimum DGNB Gold certification for all buildings. The new park will be largely independent from the grid as it will benefit from existing electricity facilities and water treatment and recycling services. Rooftops are expected to be equipped with photovoltaic panels and a geothermal system is projected to contribute to the facility’s energy and heating needs by 2025.
This marks VGP’s second significant brownfield acquisition this month, following the purchase of a 194,000 m2 land plot in Vélizy, Paris region, France. The redevelopment of old industrial sites in collaboration with local communities is a core expertise of VGP and the Group has recently indicated to be working on several notable acquisitions in the pipeline as foundation stones of an ambitious future growth plan.
With a growing presence, the Group now encompasses 40 locations in Germany and operates in seventeen European countries. The family-owned company is headquartered in Antwerp, Belgium, and operates a total of 112 parks across Europe.
CONTACT DETAILS VGP
| Investor Relations | Tel: +32 (0)3 289 1433 |
| Karen Huybrechts Head of Marketing | Tel: +32 (0)3 289 1432 |
ABOUT VGP
VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial properties as well as a provider of renewable energy solutions. VGP has a fully integrated business model with extensive expertise and many years of experience along the entire value chain. VGP was founded in 1998 as a family-owned Belgian property developer in the Czech Republic and today operates with around 371 full-time employees in 17 European countries directly and through several 50:50 joint ventures. In June 2023, the gross asset value of VGP, including the 100% joint ventures, amounted to € 6.76 billion and the company had a net asset value (EPRA NTA) of € 2.2 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957).
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