Logistics developer Gazeley Properties has pre-sold two distribution centres in Germany to Curzon Capital Partners for around €52m.
Curzon has acquired Gazeley’s 27,200m2 logistics centre on the Gewerbe und Industriepark Bingen am Rhein, which includes a 12,500m2 extension option. Supply Chain Management, the German subsidiary of Tibbett & Britten, will operate the facility. Gazeley has an option to buy an additional 27.5ha at the park from Stadt Bingen.
Curzon has also bought a new 45,000m2 European distribution centre being built by Gazeley in Kassel, North Hessen. A new railway line will serve the centre, which is due to be completed in August.
“These are our first European investment sales, but we are expanding across the Continent and many more will follow,” said Peter Gomersall, European development director at Gazeley.
