- New leases with Woltu and Upway Germany means 70% of the project has now been leased before completion
- The Tube offers a total of 76,900 sqm of multifunctional rental space
- The project is scheduled for completion in March 2025
Frasers Property Industrial has secured two new leases at its new industrial and commercial park, The Tube, in Düsseldorf, Germany. The deals with Woltu and Upway Germany total 41,500 sqm of The Tube’s 76,900 sqm total lettable area, signifying strong demand for industrial space in Germany's largest economic area with a population of around 11.4 million that can be reached within an hour of The Tube.
Woltu, an international e-commerce company specialising in home furniture, accessories and garden furniture, has committed to 37,400 sqm at The Tube over a ten-year term. The company will use the space to store and distribute its products, increasing customer efficiencies and enhancing its supply chain capacities.
Upway Germany, a specialist in refurbished electric bikes, has leased 4,100 sqm for five years to further expand its rapidly growing business in the region.
Alexander Heubes, Managing Director Europe, Frasers Property Industrial, said, “We are excited to welcome two innovative retail companies, Woltu and Upway, as new tenants for The Tube in Düsseldorf. With The Tube scheduled for completion in the next couple of months, we now only have 30% of the park, 25,500 sqm, available for lease and it’s fantastic to see the demand for these high-quality facilities.”
Jianjun Chenat, Managing Director, Woltu said, “The excellent transport connections and the sustainable orientation of the logistics park convinced us. With The Tube, we have found the ideal base to further optimise our logistics processes and promote our growth."
Toussaint Wattine, Co-Founder and Managing Director, Upway, said, “Upway is shaping the future of light electric mobility. Our new location in The Tube not only offers us the necessary flexibility and modern infrastructure, but also helps us to meet our own sustainability standards."
The Tube offers versatile, future-proofed spaces with a total of eight facilities that meet the needs of companies across the industrial, manufacturing and logistics sectors. Sustainability is at the core of The Tube, with features such as a large-scale photovoltaic system on the roof, a modern heating system based on heat pump technology and a smart metering system to ensure an energy-efficient and environmentally friendly supply. The design of the outdoor areas incorporates elements that also support employee well-being such as recreational and sports areas, including fitness facilities and table tennis areas. DGNB Platinum certification is being sought for The Tube from the German Sustainable Building Council.
Further information about The Tube can be found at: www.the-tube.de
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