Baytree secures logistics development site in Madgeburg, Germany
Located in Magdeburg’s industrial zone near the A2 and A14 motorways, the site benefits from road and rail access nearby, and is in close proximity to the multi-modal port of GVZ Magdeburg. The capital and second largest city of the state of Saxony-Anhalt, Magdeburg and its surrounding area has seen increased interest for logistics space from a range of retailers, logistics operators and industrial companies looking to benefit from the improving infrastructure and access to labour.
The site has a total area of 125,000 sqm and Baytree plans to develop up to 57,500 sqm of Grade-A of logistics space suitable for either single or multiple occupiers. The site is designated as a GI zone, which have favourable provisions relating to noise pollution, providing occupiers with less restrictions around vehicle movements.
The Magdeburg transaction follows an active period for Baytree. In the past year four build-to-suit developments, totalling c. 150,000 sqm, have commenced in France and Germany, alongside new projects secured along strategic logistics corridors in France, Germany and the UK, where clear demand has been identified. Baytree remains one of an important number of providers of development opportunities for AXA IM - Real Assets’ pan-European logistics strategy which focuses on the strongest logistics markets in Western Europe.
Sascha Petersmann, Baytree’s Head of Germany, commented: "We continue to originate and acquire attractive logistics sites for our German portfolio, and are pleased to have the support of the City of Magdeburg for this latest scheme. Magdeburg is an increasingly sought-after logistics location by both existing occupiers looking to increase their exposure in the region as well as new occupiers looking for less crowded strategic locations. The existing construction law and excellent infrastructure will allow us to execute our planned development in the shortest possible time.”
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(1) Source: INREV/ANREV Fund Manager Survey – May 2019 – in terms of assets under management
(2) Source: JLL, Logistics and Industrial Market Overview, August 2019
AXA Investment Managers - Real Assets
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FTI Consulting Inc.
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Note to editors
Baytree Logistics Properties is a pan-European logistics and industrial development company focusing on the UK, German and French markets. Baytree was launched in 2015 by AXA Investment Managers - Real Assets, one of Europe’s largest real estate portfolio and asset managers. Baytree provides development management services to the institutional investor clients of AXA IM - Real Assets. This service includes site identification, master planning, design, project management, procurement, delivery and aftercare. Baytree is focused on delivering high quality logistics, commercial and industrial buildings that meet the changing property needs of our customers. The Baytree team is highly experienced, previously having delivered over 5m sq m of logistics space for customers across Europe, China and the Middle East.
More information: www.baytree.com
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1 Source: AXA IM unaudited data
2 Source: AXA IM - Real Assets’ unaudited data
3 Source: INREV/ANREV Fund Manager Survey – May 2019 – in terms of assets under management
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