Real estate group invests in Halle’s Star Park
Halle’s Star Park on the A14 motorway is experiencing new growth: the real estate group VGP NV based in Belgium has registered a property contract for construction of high-quality multiuser real estate in the Star Park. The VGP Group is among the leading project developers for semi-industrial business parks in Germany and Europe. Three logistics and production halls with a size of approx. 20,000 to 35,000 square metres – with an investment volume of approx. 40 million euros – will be built at the Star Park Halle (Saale). Up to 200 permanent jobs in the commercial and industrial sector are to be gradually created as a result. The first production hall will already be ready for occupancy in August of 2018. The real estate group VGP is holding talks to this effect with the first tenants.
“The location of an internationally active company like VGP is further proof of the Star Park’s attractiveness in the European Central German Metropolitan Region”, said Lord Mayor Dr. Bernd Wiegand after the signing of the property contract. The area with a size of about 17 hectares shall be completely developed and put into operation by the end of 2022. “That is why we are expecting a rapid start of construction on the premises”, said Dieter Götte, Managing Director of the development & management company Entwicklungs- und Verwaltungsgesellschaft Halle-Saalkreis mbH (EVG). Among other things, EVG is responsible for marketing the Star Park area as a municipal involvement.
During the utilisation of the three logistics and production halls VGP will rely on a mix of logistics and production, for example from the e-commerce and automotive sectors. The company anticipates the establishment of three to twelve companies on the area. VGP NV has been active in Germany since 2013 and among other things works together with renowned German automobile manufacturers. With the investment at Star Park Halle (Saale), VGP is expanding to twelve locations in Germany and further expanding its portfolio of high-quality logistics and production hall real estate.