Hamburg-based project developer Garbe Industrial Real Estate has acquired a 47,000 square metre plot of land ready for construction in Schmölln (Altenburger Land district), about 20 kilometres north of Zwickau, in Germany.
Garbe plans to build a multi-user property, which can be used for both commercial and logistical purposes.
Construction is expected to begin in the second quarter of 2023.
The investment volume amounts to around €28 million, the company said.
The property is part of the Schmölln-Gößnitz industrial network site and is located near the A 4 motorway, which is one of the most important east-west axes in Germany because it connects the business locations of Dresden, Chemnitz, Jena, Erfurt and Bad Hersfeld. The Schmölln motorway junction can be reached within 3.5 kilometres without having to drive through the town. It is just under 20 kilometres to the VW plant in Zwickau.
”The central location between the two economically strong regions of West Saxony and East Thuringia and the cooperative partnership with the municipal administration were the deciding factors in our decision to commit to Schmölln,” emphasises Adrian Zellner, Member of the Executive Board of Garbe Industrial Real Estate. “The demand for space in the Zwickau area and generally along the A 4 motorway continues to increase and supply is limited. Therefore, we are glad that we have been able to secure one of the last prime properties of this size in the vicinity of Zwickau.”
A multi-user property with a total area of around 23,100 square metres is to be built on the site. The hall will have an area of 20,800 square metres. In addition, there will be 600 square metres for offices and social rooms as well as 1,650 square metres of warehouse mezzanine. For the loading and unloading of trucks, the new building will be equipped with 20 dock levellers and two ground-level sectional doors. Parking spaces for five trucks and up to 250 cars are planned for the outdoor area.
Sustainability is a major consideration in the development of the building. The property will be built according to the energy efficient KfW 40 standard. The installation of a photovoltaic system on the roof is planned to generate renewable energy. The use of fossil fuels is to be dispensed with and heat pumps are to be used for heating. Garbe Industrial Real Estate is aiming for certification according to the Gold Standard of the German Sustainable Building Council for the property. The building is scheduled for completion in the first quarter of 2024.
Talks are already being held with potential users. “We can estimate the high level of demand very well due to four other project developments within a radius of 80 kilometres. That’s why we expect full occupancy during the construction phase,” says Adrian Zellner. In addition to Bollberg, Hörselberg-Hainich, Frankenberg and another project, Schmölln is already the fifth location on the A 4 in Thuringia and Saxony in which Garbe Industrial Real Estate has become involved within a year. Mayor Sven Schrade is pleased about the new development: “It will create jobs and further enhance the value of Schmölln as a location.”