The property is situated on Neumarkt, with outstanding infrastructure and public transport links, and in the immediate vicinity of Schildergasse, Germany’s most popular shopping street. With an overall rental space of approx. 8,000 m² over four floors, small and large area leases are possible. The property, which dates back to the 60s, was extensively renovated in 2012/2013. In addition to a high-quality tenant fit-out, the property has been given a new facade. Furthermore, both entrance areas have been redesigned, the roofs reinsulated, and the marketing concept overhauled.
This transaction was unique in that there was a very short purchase process of approx. two months and it included subsequent renovation in the most central inner city location while operations were still ongoing (i.e. replacing all existing windows, installing new facades, upgrading the electronics, renovating the outdoor areas) as well as existing tenant management and the leasing of (at that point) more than 2,200 m² of technically demanding fit-outs during the construction phase.
The property was sold fully leased to AEW Europe in December 2018.
|Address||Neumarkt 35-37, Cologne|
|Type of project||refurbishment|
|Overall rental space||8,274 m2|