CTP Germany: Alexanderwerk in Remscheid ready for partial re-letting

• Alexanderwerk with partly historic halls to be refurbished and put to new use
• Master plan envisages revitalisation of 27,023 sqm of rental space on around 43,000 sqm of land
• Equipped with barrier-free access, wall boxes for electric vehicles. Construction of a photovoltaic system is planned

Until 2021, the Remscheid site was part of the portfolio of Deutsche Industrie REIT-AG, which CTP Deutschland acquired when it entered the local market. CTP is planning a comprehensive revitalisation in line with current ESG standards. Copyright: CTP Deutschland.

Wuppertal, 13 March 2024 - CTP, Europe's largest listed developer, portfolio holder and manager of industrial and logistics properties by rental area, has restored parts of the former Alexanderwerk in Remscheid and put them to a new use.

The buildings, which comprise around 27,023 square metres of rental space on the approximately 43,000 square metre site, were part of the portfolio of Deutsche Industrie REIT-AG, which CTP Deutschland acquired a good two years ago when it entered the local market. Parts of the existing property have now been successfully let to the Remscheid-based company EB Fleischerei Werkzeuge, which uses these converted parts of the building for its own needs.

The site is located in the immediate vicinity of local public transport and there is also good access to the A1 motorway, which is 4 km away. The halls on the site, some of which were previously historical, have been modernised and equipped with barrier-free access and wall boxes for electric vehicles. The construction of a large-scale photovoltaic system is planned.

"It's great to see that our region's potential for industry and trade is not only being recognised, but also being exploited," comments Martin Schwenke from the City of Remscheid's business development department.

"As a Remscheid-based company, we are delighted to be able to rent this traditional building," says Jens Bartsch, Managing Director of EB Fleischerei Werkzeuge GmbH. "With CTP Deutschland as our landlord and long-term partner for the agreed 15-year lease, we can concentrate fully on our core business and develop it further."

"When we took over the REIT portfolio, we were faced with the challenge of making the numerous spaces fit for new tenants and types of use and letting them," explains Timo Hielscher, Managing Director Business Development CTP Germany. "The property in Remscheid is an example of our success: our platform enables us to end even long-term vacancies and bring properties back onto the market.

About CTP Germany

CTP is Europe's largest listed owner, developer and manager of logistics and industrial real estate, measured by gross lettable area, with over 11.2 million square metres of GLA in 10 countries as at 30 September 2023. CTP certifies all new buildings to BREEAM Very good or better and has been awarded a "Low-Risk" ESG rating by Sustainalytics, underlining its commitment to sustainability.

Further information can be found on CTP's corporate website: www.ctp.eu