P3 Kamen is the largest redevelopment project in P3's European portfolio. In total, around 120,000 m² of logistics space will be built on the 24-hectare site, replacing existing outdated industrial buildings with modern logistics space. Phase 1 comprises five cells, four of which will be handed over in October 2018. The fifth cell - comprising 8,700 m² of warehouse space and approximately 540 m² of offices - is currently available. Another new warehouse, comprising a total of 77,000 m², is to be developed on an adjacent site. It will be ready in 2019.

The Phase 1 warehouse space will meet the “Gold” standard of the German Sustainable Building Council (DGNB). The cells will have a clear internal eaves height of 12 metres throughout and a floor loading of 6 tonnes per m². There will be one dock for each 1,000 m². Equipment includes an FM Global sprinkler system. The office and social areas have been designed to a high standard and will be adapted to meet the customer’s individual requirements.

Jürgen Diehl, P3’s Managing Director in Germany said: "The Ruhr region is one of the most strategically important area on the European logistics map. As a result, we were happy to progress with the development of the first phase of P3 Kamen on a speculative basis. This commitment has resulted in a pre-let before the start of construction. As we have already done all the preparation work, the customer can move into its new space in just six months – a key factor in securing the contract."

Specialist logistics property consultants Logivest brokered the deal. "We were able to secure this successful letting very quickly, underlining yet again how attractive the eastern Ruhr area is for logistics. And, at P3 Kamen, the fact that up to 40,000 m2 of brand new space could be made available so quickly was also significant" explains Thomas Schmidt, Managing Director of Logivest NRW GmbH.

P3 Kamen park at Henry-Everling-Straße 1, 59174 Kamen is located close to the A1 Autobahn, about one kilometre from junction 83 Kamen Zentrum.

"As mayor of the city of Kamen, I am very pleased to see the former Kettler site redeveloped," said Mayor Hermann Hupe, adding “the investment made by P3 is driving the redevelopment of the Henry-Everling-Straße area. This demonstrates the city’s success in attracting business and we look forward to the redevelopment of the adjacent property as part of a long-term partnership with P3 Logistic Parks."

P3 is increasingly focusing on the redevelopment of brownfield sites and it is anticipated that around 30% of all the space in its German portfolio will have been redeveloped into modern, logistics space by the end of 2019. In addition to P3 Kamen, redevelopment projects are taking place at P3 logistics parks in Bedburg, Dreieich and Pfungstadt.