DGAP-News: VIB Vermögen AG developing fully let two-storey project with a rentable area of around 115,000 square metres in the Ingolstadt region
15.01.2019 (www.4investors.de) -
DGAP-News: VIB Vermögen AG / Key word(s): Real Estate
VIB Vermögen AG developing fully let two-storey project with a rentable area of around 115,000 square metres in the Ingolstadt region
15.01.2019 / 07:27
The issuer is solely responsible for the content of this announcement.
VIB developing fully let two-storey project with a rentable area of around 115,000 square metres in the Ingolstadt region
Neuburg/Danube, January 15, 2019 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, is developing what will be the largest logistics facility in its portfolio, at the Interpark site near Ingolstadt. Following the start of the project, which was announced in September 2018 with the letting of the first construction phase, a long-term tenant has now also been found for the second construction phase. The seamless transition between the two construction phases is helping to optimise both planning and costs.
Once completed, the project, which has an investment volume of about EUR 100 million, will boast a total useful area of around 115,000 square metres. The second construction phase relates to a two-storey logistics facility with a rentable area of around 87,000 square metres that constitutes a flagship project in the greater Ingolstadt area. The tenants are two leading automotive manufacturers in Germany, both of whom have signed ten-year rental agreements. VIB Vermögen AG anticipates completion of the first construction phase by the end of 2019 - and the project as a whole is scheduled for completion by the end of next year.
"On the basis of a close and forward-looking partnership with the two tenants, we have managed to achieve optimum utilisation of space thanks to an innovative two-storey design. We are pleased that with this concept we can expand our expertise in the development of ultra-modern multifunctional and logistics properties by a further important module," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.
VIB Vermögen AG
Tel.: +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 929
Profile of VIB Vermögen AG (including BBI Immobilien AG)
VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.
VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.
15.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
VIB Vermögen AG
+49 (0)8431 / 9077 952
+49 (0)8431 / 9077 973
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
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