GLP expands portfolio through sale & leaseback deal with Renault and subsequent redevelopment

Frankfurt, 1 October 2024 - GLP, a leading global developer, owner and operator of logistics real estate, digital infrastructure and systems for renewable energy and related technologies, is expanding its German portfolio with the purchase of a 128,000 m2 development site in Brühl near Cologne from Renault Deutschland AG as part of a sale and leaseback deal.

Following the transaction, GLP will develop a 27,300 m2 state-of-the-art logistics property customised for the car manufacturer on the site. During the construction period, Renault will continue to operate its spare parts logistics for Germany from the existing warehouse.

As soon as Renault has moved into the new BTS (Built-to-Suit) logistics halls, GLP will construct further buildings for logistics and small-scale commercial use on the site in the second project phase alongside the new BTS building. These will comprise around 40,000 m² of modern floor space and will be offered to new customers. Overall completion is scheduled for the first half of 2028.

Busy transport routes, including the A1 and A4 motorways, intersect in the region. The ring motorway around the Cologne conurbation offers fast connections to the most populous cities in North Rhine-Westphalia and beyond to the whole of Germany.

After completion, the entire property will be aiming for DGNB Gold certification. The property will offer state-of-the-art sustainability features. Clean solar power will be available thanks to the roofs being equipped with PV systems. Modern heat pumps, green roofs, charging stations for electric cars and energy-saving LED lighting will further increase the sustainability of the buildings.

"The long-term collaboration with Renault Deutschland AG expands our German customer portfolio to include a well-known company from the automotive sector. The new development will revitalise an urban brownfield site with a modern logistics and commercial centre with a strong focus on sustainability," says Vincent Flottau, Senior Business Development Manager, GLP.

"Renault is already bundling its spare parts logistics at the site. Our development is intended to secure the future viability of the car manufacturer's logistics processes in Germany and also strengthens the Brühl site. Renault can thus remain at the site in the long term and new companies can also settle there," explains Flottau.

Caption: Aerial view of the current site in Brühl
Image rights:  GLP PF Germany Management GmbH

About GLP

GLP is a leading global developer, owner and operator of logistics real estate, data centres and systems for renewable energy and related technologies. With many years of experience and extensive operational expertise, GLP establishes and develops thriving businesses and creates value for its clients. GLP owns assets and manages companies in 17 countries in Asia, Europe, North and South America. GLP Capital Partners, a global alternative investment manager with approximately USD 124 billion in assets under management as of 31 March 2024, is the exclusive investment and asset manager for GLP.

With its commitment to a wide range of ESG principles, GLP aims to enhance its business activities, protect the interests of its stakeholders, show appreciation to employees and customers and promote communities where GLP locations are located. Further information at glp.com/global.

As at 30 June 2024, GLP's European portfolio comprised more than 10.2 million square metres of logistics space. It covers selected strategic logistics markets and is let to blue-chip customers such as Amazon, DHL and GXO Logistics. The company has a prime portfolio of building plots in Europe, enabling the development of a further 1.3 million square metres. For more information on GLP's European business, visit eu.glp.com/en/.

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Peter Tasch
Tasch Communications
Phone: (069) 24 44 68 07
Email: peter@tasch-communications.de