CityPark comprises 28,082 sq m (216,161 sq ft) of recently developed, high-quality, light industrial property and cross-dock accommodation, which can be flexibly adjusted to meet tenants' needs. The asset benefits from a DGNB ‘Gold’ rating and a multi-storey car park with 392 spaces. There is also planning permission for the development of a further 39,015 sq m (419,954 sq ft) of urban logistics accommodation across three phases. This undeveloped land is one of the last property reserves for large-scale development in the area.
We are delighted to have completed our first acquisition in Austria, for this strategy, particularly given the quality of the asset and its growth potential. Vienna offers an exciting opportunity for inner-city investment, with forecasts predicting major population growth over the next few years, while the growing prevalence of e-commerce adds to the increasing importance of logistics properties in more urban areas. CityPark is a high-quality asset in a well-positioned location that we believe will attract strong occupier returns for many years to come.