Highlights
Press releases
Union Investment invests EUR 60 million in the transformation of the Meister Areal on Virnsberger Strasse in Nuremberg
• Retail park becomes city logistics hub with commercial and retail space
• 20,500 sqm of modern logistics space to be newly created
• 15,330 sqm of modern commercial space
• Rental agreement concluded with EDEKA for local supply
• Taxonomy-compliant redesign
The course is currently being set for the future of the former 100,000 sqm Meister Areal retail park on Virnsberger Strasse: A modern and almost energy self-sufficient city logistics hub with around 20,500 sqm logistics spaces and a new local supply centre for residents and employees is being built in a sought-after and very well-connected location in the western part of Nuremberg. The project was given the go-ahead with the signing of a long-term lease agreement with the EDEKA Group. The project is backed by the owner of the existing property, Union Investment. The comprehensive refurbishment with a project volume of around EUR 60 million is being financed by its open-ended real-estate fund UniInstitutional German Real Estate. The building application has already been submitted to the building authorities of the City of Nuremberg and approval is expected in the first quarter of 2025.
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"After an intensive planning period of around two years, we are delighted to be launching a forward-looking and particularly sustainable concept for this established and excellently connected location. With the new Meister Areal, we are creating a supply of commercial space from the existing portfolio that perfectly meets the high demand from logistics companies in the Nuremberg regional centre, which has been unbroken for years."
Sven Lintl, Head of Asset Management Germany at Union Investment
The aim of the repositioning concept from the outset was to take into account the increased demand for sustainable and climate-friendly logistics and commercial solutions at the site. "The specific objective is to create a site that is almost 100% independent of fossil fuels and self-sufficient," emphasises Matthias Wagner, Senior Business Expert Logistics at Union Investment. Heating will be provided entirely from renewable energy sources thanks to an air heat pump. The plan is to install a high-performance photovoltaic system with 3 megawatts peak (MWp) integrated into a green roof, which, like the planned partial greening of the façade, is intended to promote biodiversity. The construction project also includes further measures to protect species, such as extensive hedge and tree planting and the creation of a lizard habitat.
The revitalisation and redevelopment project is divided into four construction phases. The demolition of the unused existing buildings, including the 20,000 sqm gross floor area of the Real supermarket and a drinks store, began in October. Completion is planned in stages for 2026/2027.
14 October 2024