Centerscape acquires high-street store near Hackescher Markt in Berlin
The real estate agent Winters & Hirsch has advised Centerscape on yet another acquisition, this time a high-street store in a historical area of Berlin, Spandauer Vorstadt. The seller is the Berlin-based United Land GmbH.
The store is located in the mixed-use residential and retail building Oranienburger Str. 12 in the district of Mitte and has approximately 206 sqm. The tenant is G-Star RAW. The Oranienburger Straße store had been the first store of the Dutch retail chain, which specialises in exclusive designer fashion, in Berlin.
The listed property Oranienburger Straße 12 was built in 1884 and modernised in 2003.
The parties have agreed not to disclose further details, including the purchase price.
The transaction marks the first acquisition of a high-street property for Centerscape in the Greater Berlin area. Established in 2007, the company has built an impressive real estate portfolio of 155 assets, including 14 in Greater Berlin. The portfolio represents a total investment volume of currently around 685 mn euros. Centerscape’s team of 60 focuses on the further growth of the company, acquiring up-market retail properties in Germany, Poland, and the Czech Republic. Properties in prime retail locations and at busy road junctions, retail buildings and ground floor retail units occupied by fashion retailers, pharmacies, organic supermarkets, banks, and restaurants, among others, are all part of the company’s investment profile.
The purchase contract was notarised by notary Dr. Volker Dickersbach of Neumann + Dickersbach, Berlin.
The Berlin law firm Fuhrmann Wallenfalls represented the seller. The buyer was represented by Wirtschaftskanzlei GSK Stockmann.