Victoria Properties A/S sells beverage store in Berlin to Family Office from Israel

Winters & Hirsch has advised the Copenhagen-based fund Victoria Properties A/S on selling a beverage store in Berlin’s noble sub-district of Wannsee (Steglitz-Zehlendorf district). The retail property was sold to a Family Office from Israel within three weeks.

Completed in autumn 2011, the single-storey beverage store has approx. 422 sqm of rental space. The corner plot with approx. 1,456 sqm accommodates around ten parking spaces. The store has a highly favourable location in Wannsee, one of Berlin’s most prosperous residential areas, and is also near the well-heeled city of Potsdam.

The sole tenant in the retail property is Getränke Hoffmann. Part of Radeberger Gruppe, the beverage retail chain currently operates some 190 stores in the Berlin-Brandenburg region.

The seller, Victoria Properties A/S, had instructed Winters & Hirsch to market the property. The law firm FPS Rechtsanwälte has represented the buyer.

The managing director of Winters & Hirsch Real Estate Advisory GmbH & Co. KG, Philipp C. Tabert, noted that the Berlin investment market had increasingly been the focus of foreign buyers over the past months. Mixed-use residential and retail and mixed-use commercial and retail properties with well-known anchor tenants in prime locations of the German capital and its commuter belt were selling well. Winters & Hirsch has advised on several transactions involving large retail properties to pension funds and other investors from Germany and abroad.

Winters & Hirsch brokers sale of condominium in Berlin’s Lichterfelde area

Winters & Hirsch’s Residential Team has successfully brokered the sale of a five-room condominium at Gardeschützenweg 5 in Berlin’s district of Steglitz-Zehlendorf. Two private individuals from Berlin and Nigeria, respectively, bought the property. The seller, a Berlin-based tax consultant, had retained Winters & Hirsch to act as a sole agent.

The five-room maisonette with approx. 115 sqm plus parking space is part of a stately stucco property dating from 1901. Lavishly refurbished in 2007, the property Gardeschützenweg 5 is situated between Hindenburgdamm and Botanischer Garten S-Bahn station.

Besides acting as a sole agent for the seller, Winters & Hirsch also advised the buyers on the transaction.

The Berlin-based notary Michael Schudnagies has notarised the contract. The parties have agreed not to disclose the purchase price.

UK private investor snaps up building plot on listed former brewery site in Berlin

Winters & Hirsch has advised the Berlin property developer Grundstein Gruppe on the sale of a building plot on the site of the former Sternecker brewery. The 926 sqm plot at Berliner Allee 121G in Weißensee in Berlin’s district of Pankow went to a private investor from the UK.

The property is part of the listed former Sternecker brewery site. The investor plans a three-storey residential building with parking spaces on the plot, for which local public infrastructure is in place.

The notary Michael Ch. Bschorr of the Berlin law firm of Wollmann & Partner notarised the contract last year.

The parties have agreed not to disclose the purchase price.

Acting as a sole agent for the seller, Winters & Hirsch also advised the buyer on the transaction.

Winters & Hirsch brokers sale of 14,000 sqm building plot in Berlin to CG Gruppe

Winters & Hirsch has brokered the sale of one of the few remaining building plots in Berlin’s trendy Samariterviertel quarter (district of Friedrichshain-Kreuzberg) to CG Deutsche Wohnen GbR, a company of the Christoph Gröner Gruppe based in Leipzig and Berlin.
Seller of the property Rigaer Str. 71-73a, a former brewery site, is the community of heirs of Beiser based in Israel and the UK. The property had been restituted to the heirs under the German Property Settlement Act [Vermögensgesetz] in 1998.
The approx. 5,150 sqm plot near Bänschstraße, Samariterplatz and Frankfurter Allee features several former brewery buildings. CG Gruppe plans to demolish parts of the existing structures and build a high-quality residential complex with commercial space. The blend of old-world industrial charm and modern architecture is a vital feature of this project. Marketed under the name of Sama-Riga, the new complex is to comprise approx. 14,000 sqm.
For Philipp C. Tabert, managing director of Winters & Hirsch, this latest deal is further proof of the ongoing positive development of the Samariterviertel, where most old buildings underwent refurbishment over the past 15 years. Tabert noted that the area was now upgraded further by high-quality properties. He added that „the Samariterviertel is currently seeing the most dynamic building activity of all quarters in the German capital. That reflects the tremendous attractiveness of Friedrichshain, where demand will most likely remain high in the future.”
Winters & Hirsch had been instructed by the community of heirs to market the plot and also advised the buyer on the transaction.
The Berlin law firm von Trott zu Solz Lammek represented both the seller and executor of the estate. The parties have agreed not to disclose the purchase price.

Winters & Hirsch advises Deutsche Wohnen AG on sale of residential complex in Berlin‘s Reinickendorf district

Acting on instructions from Deutsche Wohnen AG, the real estate experts of Winters & Hirsch have brokered the recent sale of a listed residential complex in Berlin’s Reinickendorf district to a wealth management firm based in the German capital.

The 1930 property is part of the listed housing estate dubbed Weiße Stadt [White City]. In 2008, UNESCO included the housing estate in its world heritage list.

The property comprises 54 residential units on approximately 4,000 sqm of total floor space. The flats are between 71 and 76 sqm in size. The vacancy rate is approx. 8 per cent. The buyer plans to convert the flats into condominiums.

The property sold at 17 times the annual rent.

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

The notary Rahns of FPS Rechtsanwälte & Notare, Berlin, notarised the contract.

 

German Family Office extends portfolio in Berlin’s Bülow quarter

The investment experts of the Berlin real estate agency Winters & Hirsch have advised a well-known private investor from Berlin on a sales transaction involving a prominent residential and retail building on Steinmetzstraße in the capital’s Schöneberg area. The buyer was a Family Office from the German state of Baden-Württemberg.
The 1905 investment property underwent extensive refurbishment in 2007 with funds from the state of Berlin and Investitionsbank Berlin (IBB) under the Berlin urban development scheme.
The fully occupied building has 29 residential units on approx. 2,000 sqm and three commercial units on approx. 334 sqm of floor space. The outdoor space totals around 600 sqm.
The property on Steinmetzstraße sold at 14.7 times the net annual rent, which translates into a yield of 6.8 per cent per annum.
Bounded by Potsdamer Straße and Bülowbogen as well as Kleist Park and Potsdamer Platz, the Bülow quarter is among Schöneberg’s up-and-coming residential neighbourhoods.
Instructed by the seller to market the property as sole agent, Winters & Hirsch also advised the buyer on the transaction. Already the second sale brokered for the seller within six weeks, Winters & Hirsch was able to wrap up this latest deal within four weeks.
The Berlin law firm Schultz und Seldeneck, which specialises in real estate law, has notarised the purchase contract.
The parties have agreed not to disclose details of the purchase contract.

Winters & Hirsch brokers sale of investment property on Tempelhofer Damm in Berlin

Acting on instruction from a Berlin-based private investor, the real estate experts of Winters & Hirsch have brokered the sale of a mixed-use residential and retail building in Berlin’s Tempelhof area dating from 1895 to a foreign private investor.

The commercial property in Tempelhof sold at an initial yield of around eight per cent per annum.

Winters & Hirsch had been instructed by the seller to market the property in March 2012 and was able to wrap up the transaction within six weeks.

The parties have agreed not to disclose the purchase price.

The managing director of Winters & Hirsch, Philipp C. Tabert, stated that investment properties in the German capital had been going strong over the last months, particularly attracting private and institutional investors from abroad again.