VIB Vermoegen : Vermögen starts 2018 with further portfolio growth

24.01.2018

VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, continues the growth path with new projects in 2018.

First in-house development in 2018 handed over on schedule

A new property - which is already fully let - was completed at the Grundig business park on Beuthener Strasse in Nuremberg at the turn of the year. The new property was built as part of redensification on existing plots, giving rise to an additional 7,600 square metres of industrial space and some 900 square metres of new office space. One of the two tenants took possession of their section of the property on January 2, 2018 already, with the handover of the remaining section scheduled for July 1, 2018. Both rental agreements will run for ten years.

Foundation laid for further growth in 2018

VIB Vermögen will continue to sustainably expand its portfolio by means of further in-house developments in 2018. The company already foresees the construction start and completion of two properties that will strengthen the logistics/light industry segment. One of these properties will be located at the Interpark site near Ingolstadt and will offer a rentable area of some 13,500 square metres, whereas the other property will be situated at a new site in Vaihingen/Enz in Baden-Württemberg and will have a rentable area of approximately 10,400 square metres. A medium-sized production company is the principal tenant of both properties.

Alongside the completion of new buildings on existing properties, VIB also owns further plots in the Augsburg, Ingolstadt, Munich and Nuremberg metropolitan areas. The company currently boasts a total pipeline of plots measuring approximately 200,000 square metres of expected rental space for future project developments. Some 40 per cent of these sites are situated in the greater Munich area, with 60 per cent in the growth regions of Augsburg, Ingolstadt and Nuremberg.

'It is our experience that regulations concerning the designation of commercial sites are being applied in an increasingly restrictive manner. Nonetheless, we are able to keep expanding our pipeline for future projects. We regard our clear focus on the economically strong region of southern Germany as favourable to VIB. Here, we are able to harness our network of companies, tenants and local authorities to great effect, thus gaining access to sites in desirable and sustainable locations,' explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen. 'The redensification in Nuremberg, however, is proof that we are still seizing opportunities to expand existing sites in addition to the acquisition of plots,' continues Pfandzelter.