Capturing the huge sustainability potential of a resilient asset class
Having established one of the largest retail warehouse park (RWHP) asset management platforms in Europe with assets under management (AUM) of €4.5 billion mainly invested in Belgium and Germany, Redevco offers great sustainability and mixed-use ‘densification’ potential. The 180 assets form a major contribution to Redevco’s mission to lead the transformation of cities to ensure they are sustainable and liveable.
The RWHP market was not only the strongest performing retail sub-segment in the Covid pandemic period, thanks to the predominance of ‘convenience retailers’ such as hypermarkets and DIY stores in the average tenant mix, but with the potential for mixed-use ‘densification’ developments RWHPs could also play an important role in relieving the urbanisation pressure and limiting urban sprawl. In addition, the RWHP market could potentially be one of the most sustainable retail real estate sectors due to the vast possibilities to implement renewable energy solutions and measures, reducing the assets already relatively low carbon intensity.
To build a strong retail warehouse parks platform and to maximise the sustainability potential, Redevco is constantly developing new activities. We currently manage 180 assets with a total gross lettable area (GLA) of 2.5 Mio square metres distributed across Germany (60% of GLA), Belgium (38% of GLA) and France (2% of GLA). They offer great sustainability potential and together form a major contribution to Redevco’s mission to lead the transformation of cities to ensure they are sustainable and liveable.
On- and off-site renewable energy generation is an integral part of our approach to redeveloping buildings. As part of this, we launched Project Solar together with our shareholder COFRA Holding in 2020. Through the installation of solar PV panels on the roofs of the buildings, Project Solar provides clean, on-site energy to the tenants of the retail park assets that we manage for COFRA in Belgium.
In 2022 Redevco acquired a majority stake in redos, the Hamburg-based large-scale retail and urban logistics property investment specialist. Founded in 2004, redos has a strong reputation in Germany as a trusted operator of retail warehouse parks and convenience retail sites. In addition, redos has a growing urban logistics business which allows for an integrated approach to servicing urban areas.