Following an announcement earlier this year of its intention to sell, Deutz AG said it has completed the sale of the land occupied by its former Cologne-Deutz operations to a Düsseldorf-based project developer Gerchgroup. Deutz said it expects to receive about €125 million for the site.
The premises in Cologne-Deutz were most recently used for engine component manufacturing and cover an area of around 160 000 m2. The location has been vacant since the last manufacturing operations were relocated to its current headquarters in Cologne-Porz.
The Cologne-Deutz location on Mülheimer Str was near the former headquarters buildings and was the manufacturing and operational hub for Deutz for many years.
Gerchgroup intends to redevelop this former industrial site, which is close to the Rhine river, to create a new city district with a high proportion of housing.