P3 purchased a 78,000 m2 site adjacent to P3 Kamen park last year (2016). Having obtained the necessary approvals from the City of Kamen, the pan-European logistics property investor-developer has now commenced a 4-month programme to demolish the out-of-date buildings currently on the site, which is located close to the important A1 motorway. Construction of a modern 44,000 m² warehouse, which is the first phase of the redevelopment programme, will commence as soon as demolition is completed.
The regeneration project will eventually encompass the entire 24 hectare park. The first phase is scheduled for completion in March 2018.
Jürgen Diehl, Managing Director of P3 in Germany, said: "This project enables us to expand our logistics park by a third, up to a total of 153,000 m² of warehouse space. Given the scarce land reserves, redeveloping existing space and further reducing the negative impact on the environment through energy-efficient construction is economically and environmentally sound. The unused and obsolete buildings are going to be replaced by a state-of-the art logistics park that meets our high quality standards and the long term operating requirements of our customers."
Logivest and BNP Paribas Real Estate have been appointed leasing agents for the new space.