Heidelberg has reached a further milestone as part of its planned site and structural optimisation measures. The sale of an area of around 130,000 sqm to the VGP Group will create a new industrial and commercial park at the Wiesloch/Walldorf site. A corresponding purchase agreement was signed in late December.
VGP is a family-run European developer, operator and owner of high-quality logistics and commercial properties. The company has a fully integrated business model and many years of experience along the entire value chain, from land acquisition and development to asset and property management. Heidelberg did not declare the selling price, but indicated it achieved a mid double-digit million-euro sale.
“By using space more efficiently, we will save considerable costs at Heidelberg in the future. In addition, we will use the funds this frees up to strengthen our liquidity in times of the COVID-19 pandemic and to press ahead with strategic investments for the future on the path of our digital transformation,” said Rainer Hundsdörfer, CEO of Heidelberger Druckmaschinen AG. “In VGP, we have found an experienced real estate developer as a partner who will market the space at the Wiesloch/Walldorf site in a future-proof manner in close coordination with the municipalities and Heidelberg.”
Jan van Geet, Chairman of the Management Board of VGP, is also pleased about the acquisition of the site. “We are pleased that we have succeeded in acquiring this site. In close and trusting cooperation with Heidelberger Druckmaschinen AG, the municipalities and the city of Heidelberg, we were able to realise the acquisition quickly. We plan to realign the site strategically and develop a modern industrial and commercial park here for long-term tenants from a variety of sectors. In this way, we want to make a sustainable contribution to the creation of new jobs and the economic development of the region. Sustainability and energy efficiency are key parameters for the properties developed by VGP. These aspects will also play a central role in the development of the VGP Park in Wiesloch/Walldorf.”
The Wiesloch/Walldorf site covers a total area of 840,000 sqm. Of this, around 270,000 sqm are to be marketed in the course of the planned site and structure optimisation. The partnership with VGP is the first step in this project. At present, almost 5,000 employees work at the site.
