Heineken to Open New German Warehouse at CTPark Weiden

Regulatory News:

CTP, Europe's largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has signed an agreement to lease 28,000 sqm at CTPark Weiden to Sirl Interaktive Logistik GmbH (Sirl), the specialised beverage logistics company, which will be used for Heineken's new distribution centre in Germany.

The warehouse will be operated by Sirl and will enable Heineken to expand its logistics network in Germany, in response to increasing logistics demand to support the growing beer market in recent years. By choosing CTPark Weiden, Heineken is securing a future-proofed and sustainable distribution facility for the German market. From January 2024 the new warehouse, together with its location in Duisburg, will supply the German market with Heineken’s entire German product portfolio. The lease comprises 17,000 sqm of warehouse space, 2,300 sqm of mezzanine space, 8,000 sqm of outdoor storage and a 700 sqm office.

CTP acquired the former ATU central warehouse in Weiden in spring 2023, where it is currently delivering a sustainable refurbishment and upgrade on the 83,000 sqm site in the Oberpfalz region that will increase the 44,000 sqm GLA to 60,000 sqm GLA. CTP has already pre-let 68% of the property before the refurbishment work that started in summer 2023 is completed, which will bring CTPark Weiden up to the highest sustainability standards when in operation from the beginning of 2024. In addition to Sirl, tenants at CTPark Weiden will include MSA Motor Sport Accessoires GmbH and INOTECH Kunststofftechnik GmbH.

To make way for the new Heineken warehouse, an existing high-bay warehouse is being dismantled and replaced with a new 26,000 sqm building that is being erected on the existing 10,500 sqm floor slab, while refurbishment of other existing buildings with an area of around 34,000 sqm is also being undertaken. CTP is improving the sustainability of the park by installing LED lighting, fossil fuel free heating using heat pumps and installing photovoltaic systems. Only parts of buildings that are no longer usable will be demolished and construction waste is being recycled.

CTPark Weiden was acquired by CTP in spring 2023 as part of the group's €300 million investment in the coming years to grow its warehouse portfolio in Germany, with CTP aiming to double the size of its pan-European network of business parks by the end of the decade. CTP also acquired CTPark Rastatt in Q1-2023, comprising 60,000 sqm of land, which has the potential for the development of 33,000 sqm GLA of Grade A warehouse space.