Aviva Investors, the global asset management business of Aviva plc, announces it has acquired a newly-developed logistics hub located in the Kitzingen region of Bavaria, Germany from Scannell Properties.
The building, which is situated in the ConneKT Logistics Park, was completed in July 2023 and is fossil-fuel free, offering nearly 12,000 sq m of warehousing space. It is fully pre-let to an online retailer on a 15-year lease, whilst being located strategically with access to the A3 and A7 motorway networks running East-to-West and North-to-South across Germany.
Building on Aviva Investors’ continued focus to decarbonise its real estate portfolio, the building also possesses strong sustainability credentials. As well as being fossil fuel free and using a district heating network connection, it is targeting an EPC A rating and a Deutsche Gesellschaft für Nachhaltiges Bauen (DGNB) Gold classification, considered one of the leading sustainability certification systems for buildings.
George Fraser-Harding, Head of European Funds, Real Estate, at Aviva Investors, said:
“We are pleased to continue the growth of our European real estate strategy with this strategic acquisition of a core asset in Bavaria. Let to a high-quality tenant on a multi-year lease and well-positioned geographically, the hub complements and diversifies our existing portfolio of logistics assets in continental Europe, whilst its sustainability credentials should make it an attractive proposition well into the future. All of this will contribute to delivering positive long-term performance for our investor clients.”