Winters & Hirsch brokers sale of residential and commercial building in Berlin’s Zehlendorf area to private investor

Winters & Hirsch has advised a listed corporation based in Frankfurt am Main on the sale of a mixed-use residential and commercial building in Schönow, a neighbourhood in Berlin’s Zehlendorf area, to a private investor from Germany.

Schönow is situated in the south-western corner of Berlin on the border to Brandenburg, near Teltow and Kleinmachnow.

The fully occupied building was completed in 1962. It has six residential units distributed over approximately 406 sqm and one commercial unit with 166 sqm approximate. The 1,190 sqm plot accommodates one parking space and one garage.

The parties have agreed not to disclose the purchase price.

Winters & Hirsch had been instructed by the seller to market the property, and also advised the buyer on the transaction.

The purchase contract was notarised by the notary Michael Ch. Bschorr of the Berlin-based law firm Wollmann & Partner in July 2015.

Woolworth store in Berlin snapped up by Family Office from Munich

Acting as sole agent for a Hamburg group of investors, Winters & Hirsch has brokered the sale of the retail and office building Berliner Allee 62-66 in Berlin’s sub-district of Weißensee (district of Pankow) to a family office from Munich.

The retail space in the building is occupied by a Woolworth store and a TEDi discount store. The offices are let to law firms and tax consultancy firms.

Completed in 1996, the three-storey building has four office units and two retail units with approx. 3,370 sqm of total rental space. The property comes with grounds covering approx. 1,870 sqm.

The fully let property sold at 12 times the net annual rent, which translates into a yield before purchasing costs of 8.33 per cent per annum.

One of the main shopping streets in the district, Berliner Allee offers a wide range of shops and services. Pankow is among the most sought-after residential areas of Berlin, with increasing population numbers and rising property prices.

Winters & Hirsch had been retained by the seller to market the property as sole agent, and also advised the buyer. The transaction was successfully completed within four weeks.

The parties have agreed not to disclose the purchase price.

Hoechst pension fund snaps up specialist retail centre in Potsdam

Acting as sole agent, Winters & Hirsch has advised a Berlin property developer on a forward deal to sell a brand-new specialist retail centre in Potsdam, the capital of the federal state of Brandenburg. The property at Potsdamer Chaussee 20 in Potsdam’s area of Groß Glienicke was acquired by the Frankfurt-based Pension Fund of the Employees of Hoechst Group.

Opened in May 2015, the fully occupied centre has five retail units with some 4,200 sqm of total rental space. The approx. 16,630 sqm plot accommodates around 149 parking spaces.

Anchor tenant REWE is joined by dm (drugstore), Takko (discount fashion store), K+K Schuh-Center (shoe store), and Mäc-Geiz (non-food discount store).

The new retail centre enjoys an excellent location for a retail property of this type. Residents, often young families, appreciate the high standard of living offered by Groß Glienicke and the neighbouring Berlin sub-districts of Kladow and Gatow. Property prices in the area are moving upward.

Winters & Hirsch had been retained by the seller to market the new-build property as sole agent and also advised the buyer on the transaction.

The buyer was represented by the Frankfurt-based law firm of REUTER Rechtsanwälte. The parties have agreed not to disclose the purchase price.

DEFAMA AG acquires specialist retail centre in Bleicherode, Thuringia

Winters & Hirsch has advised a group of private investors from Bavaria on the sale of a specialist retail centre in Bleicherode (rural district of Nordhausen, state of Thuringia).

The property was purchased by the Berlin-based DEFAMA Deutsche Fachmarkt AG for 2.57mn. euros, which translates into a multiplier of 7 based on net annual rent.

The retail complex enjoys a central, prominent corner location at Burgstraße 60 / Lindenstraße 15, 16. Completed in 1994, the property has some 4,010 sqm of total rental space and comes with an approx. 11,000 sqm plot.

A REWE consumer market, an Ernsting’s Family store, and a pharmacy are the main tenants. Further space is occupied by local shops, including a shoe and bag store, a bakery, a dry cleaner’s, and a florist shop. The property also accommodates doctors’ practices as well as residential units.

A small town of some 6,500 residents, Bleicherode is situated in the rural district of Nordhausen in the state of Thuringia. The town has good infrastructure and direct access to the A 38 motorway which connects the cities of Kassel and Leipzig.

Winters & Hirsch brokers sale of residential complex in Berlin to investment banker from Vienna

Winters & Hirsch has advised a German listed real estate company on the sale of a residential property on Hubertusstraße in the sub-district of Rahnsdorf (district of Treptow-Köpenick) to a private investor from Vienna.

The modern two and three-storey residential complex with direct access to Hubertussee lake is situated in Hessenwinkel, one of the most sought-after residential addresses in South Berlin. The area is referred to as Neu Venedig [New Venice] on account of its numerous small lakes and canals.

Completed in 1998, the property has twelve residential units with approx.
684 sqm of rental space as well as approx. 2,100 sqm of outdoor space. The property was sold at a multiplier of 17.7 plus purchasing costs. The parties have agreed not to disclose the purchase price.

Winters & Hirsch had been instructed by the seller to market the property and also advised the buyer on the transaction.

The purchase contract was notarised by notary Martin Sukowski of the Berlin law firm of Wollmann & Partner.

The managing director of Winters & Hirsch, Philipp C. Tabert, was pleased about this successful transaction. “Properties in this location are much sought-after and rarely come to the market. The property developments currently underway in Neu Venedig will upgrade the neighbourhood even further,” said Tabert.

Bouwfonds IM acquires student residence in Göttingen

Winters & Hirsch has advised the Berlin-based Grundstein Group on the sale of a student residence in the university town of Göttingen. The property was acquired by Bouwfonds Investment Management GmbH for the Bouwfonds European Student Housing Fund.

Originally from the 1970s, the 14-storey building was extensively refurbished by the seller between 2014 and 2015. The residence has 146 modern student apartments on approx. 3,940 sqm of total rental space. The approx. 3,475 sqm plot accommodates 30 parking spaces.

The purchase price was 10.15 million euros.

Winters & Hirsch had been instructed by the seller to market the property and also advised the buyer on the transaction.

The purchase contract was notarised by notary Jan Lindner-Figura of the law firm of GÖRG. Bouwfonds was represented by the Hamburg-based law firm CT Legal.

With some 120,000 residents, Göttingen is the sixth-largest city in Lower Saxony. Göttingen is largely dominated by the Georg-August University, the oldest and largest university in the state, as well as two further universities and numerous well-known research institutes. Students account for around 20 per cent of the town’s population. Besides higher education, Göttingen’s local economy is driven by measuring technology, optical industry, laser technology, and logistics.

Winters & Hirsch brokers sale of building land in Schönefeld (state of Brandenburg)

Winters & Hirsch has brokered the sale of a land plot with approx. 19,000 sqm in Schönefeld in the state of Brandenburg to Hawridge Properties Limited, an Irish investor based in Dublin.

The seller of the property close to the future capital airport is a community of heirs from Germany.

Winters & Hirsch had been instructed by the community of heirs to market the property and also advised the buyer on the transaction.

The parties have agreed not to disclose the purchase price.

Hawridge has been active on the location of Berlin’s future airport for a number of years. In 2008, the Irish investor acquired approx. 250,000 sqm of land from Hypo Vereinsbank. This earlier transaction had also been brokered by Winters & Hirsch.

Family Office from Israel acquires specialist retail centre in Fredersdorf near Berlin

The Berlin-based real estate agency Winters & Hirsch has advised a Hamburg property developer on a forward deal for the sale of a specialist retail centre currently under construction in the state of Brandenburg. The property in Fredersdorf-Vogelsdorf, a community in the rural district of Märkisch-Oderland, was acquired by a Family Office from Israel.

The property is to comprise approx. 3,180 sqm of total rental space and approx. 95 parking spaces on a plot of approx. 9,000 sqm. Completion of the property close to Fredersdorf S-Bahn station is slated for the second quarter of 2015.

The main tenants in the new retail centre are going to be a REWE consumer market and a dm drugstore. Approx. 330 sqm of the rental space is earmarked for commercial use such as doctors’ practices and offices.

Fredersdorf, a community of some 12,700 residents, is among the well-heeled areas of the Berlin metropolitan region. The community has enjoyed a moderate increase in population over the last years.

Demand for German retail properties remains high from both German and foreign investors. In the first half of 2014, the overall investment volume totalled approx. 4.8 bn euros, a year-on-year increase of approx. 20 per cent. The scarce supply of investment opportunities in prime retail locations increasingly makes investors look at secondary locations with the potential for value increase. Boasting fast transport links to the capital and positive demographics, the prospering Berlin commuter belt is a promising location for medium and long-term investment in this segment.

Winters & Hirsch had been retained by the seller to market the property and was able to wrap up the transaction within a few weeks.

The seller was represented by the Berlin law firm of Wegner Ullrich Müller-Helle. The buyer was represented by FPS Rechtsanwälte.

The parties have agreed not to disclose the purchase price.

Winters & Hirsch brokers sale of yet another Getränke Hoffmann beverage store to Family Office from Israel

Winters & Hirsch has advised PPC Immobilien UG based in Weißenhorn, Bavaria, on the sale of a brand-new speciality beverage store in Potsdam, the capital city of Brandenburg. The property, located at Potsdamer Chaussee 98 in the Groß Glienicke area, was sold within four weeks to a family office from Israel.

The retail property had been completed and handed over to the tenant this summer. The single-storey beverage store has approx. 522 sqm of rental space. The approx. 2,900 sqm plot accommodates approx. 14 parking spaces. The new store enjoys an excellent location for a retail property of this type. Residents appreciate the high standard of living offered by Groß Glienicke and the neighbouring Berlin sub-districts of Kladow and Gatow. Property prices in the area are moving upward.

Getränke Hoffmann is the tenant in the building. Part of Radeberger Gruppe, the speciality beverage retailer generates an annual turnover of around 150 million euros with approx. 190 stores in the Berlin-Brandenburg region. The Groß Glienicke project represents the company’s latest generation of beverage stores sized between 400 and 1,000 sqm designed to increase sales.

Winters & Hirsch had been instructed by the seller to market the property and also advised the buyer on the transaction.

The purchase contract was notarised by notary Bernd Eilbrecht. The seller was legally represented by FPS Rechtsanwälte. The parties have agreed not to disclose the purchase price.

Philipp C. Tabert, the managing director of Winters & Hirsch Real Estate Advisory GmbH & Co. KG, noted in this context that foreign buyers were keener than ever to invest in Berlin and Potsdam, adding that the focus of private and institutional investors was mainly on residential and retail buildings with well-known anchor tenants in up-market residential areas of Berlin and its commuter belt.

Vienna investment banker snaps up residential and retail building in Berlin

Acting on behalf of a private equity fund based in Frankfurt, Winters & Hirsch has brokered the sale of a residential and retail building in Berlin’s Lichtenberg district to a private investor based in Vienna.

The prominent, five-storey corner building is situated on Dönhoffstraße in the sub-district of Karlshorst, close to Karlshorst S-Bahn station and the campus of the HTW University of Applied Sciences. One of the most sought-after residential addresses of Lichtenberg, the sub-district of Karlshorst is often regarded as the Dahlem of the East.

Originally built around 1900 and refurbished in 2009, the building has nine residential units with approx. 586 sqm of rental space as well as one commercial unit with approx. 180 sqm. The total rental space of the fully let building is approx. 766 sqm. The building comes with approx. 990 sqm of outdoor space.

The property was sold at a multiplier of 20.2 plus purchasing costs.

Winters & Hirsch had been instructed by the seller to market the property, and also advised the buyer on the transaction.
The seller was represented by the law firm of von Trott zu Solz Lammek. The purchase contract was notarised by notary Michael Ch. Bschorr of the law firm of Wollmann & Partner.

The parties have agreed not to disclose the purchase price.

For the managing director of Winters & Hirsch, Philipp C. Tabert, this sale to a foreign investor once more shows the upward trend on the Berlin investment market. “Owing to the shortage of buy-to-let properties in up-market inner-city locations, properties like this now sell within days. Investors are increasingly looking at Berlin’s periphery for investment opportunities”, said Tabert.