The office building is directly located in the heart of Cologne, at Neumarkt, with excellent in-place infrastructure and connections to public transport, in immediate proximity of Schildergasse – Germany‘s most frequented retail and shopping street. With a total area of approx. 8,000 sqm, spread over 4 floors, it can accommodate small- and large-scale tenant requirements. The property was built in the 1960s and has been extensively redeveloped by Indigo Invest in 2012/2013. In addition to the upscale tenant fit-out, the redevelopment comprised the application of a new facade, the repositioning of the entrance as well as the revision of the marketing concept.
One distinctive feature of this transaction lies in the very short acquisition timeframe of approx. 2 month, the subsequent redevelopment in a very central city location whilst being occupied by tenants (i.e. exchanging of existing windows, application of a new facade, renewal of electricity, refurbishment of vacant areas etc.) and leasing of over 2,200 sqm at that time vacant floor space.
The fully-let property has been sold to AEW Europe in the end of 2018.