UK-based real-estate developer, investor and asset manager Verdion has announced that it has commenced the speculative development of a €100m (£85.74m) industrial and logistics park near the German capital of Berlin. The move is part of the company’s Verdion European Logistics Fund 1 (VELF1).

Verdion PremierPark Ludwigsfelde will cover 150,000m² and be located close to Berlin’s ring road, a 35-minute drive from the city centre. It is being built on brownfield land.

Florian Stöbe, the head of investment for Germany at Verdion, said when announcing the move: “This is a major new park development within our VELF1 fund, aimed at a wide range of market sectors and designed to be flexible, efficient and sustainable throughout. Having seen the site shaped by decades of automotive industry activity, we are enjoying the challenge of transforming this brownfield land into a modern industrial and distribution hub powered by clean energy.”

Verdion was founded in 2010 and is headquartered in London. It currently has offices in Düsseldorf, Frankfurt, Copenhagen, Stockholm and Gothenburg.