Berlin: Centerscape acquires high street unit at Hackescher Markt – Winters & Hirsch advises

The real estate agent Winters & Hirsch has advised Centerscape on yet another acquisition. Seller of the high street shop unit in the German capital is the Berlin-based United Land GmbH.

The unit with approx. 206 sqm of retail space in the residential and retail building Oranienburger Str. 12 in Berlin (Mitte) is let to G-Star RAW. It’s the first store the Dutch retail chain, which specialises in exclusive designer fashion, had opened in Berlin.

Orginally built ca. 1884, the listed property in the historical Spandauer Vorstadt area was modernised in 2003.

The parties have agreed not to disclose the purchase price and further details of the transaction.

The transaction marks the first acquisition of a high street retail property in the Greater Berlin Area for Centerscape. Since being established in 2007, the company has built an impressive real estate portfolio of 155 assets, including 14 in the Greater Berlin Area. The portfolio represents a total investment volume of currently around 685 mn. euros. Centerscape’s dynamic and goal-oriented team of 60 in-house experts is focussing on the further growth of the company, acquiring upmarket retail properties in Germany, Poland, and the Czech Republic. Properties in prime retail locations and main traffic nodes, retail buildings and ground floor retail units occupied by fashion retailers, pharmacies, organic supermarkets, banks, gastronomy, etc. are all part of the company’s investment profile.

The purchase contract was notarised by notary Dr. Volker Dickersbach of Neumann + Dickersbach, Berlin.

The seller was legally represented by the Berlin law firm of Fuhrmann Wallenfalls; the buyer was represented by Wirtschaftskanzlei GSK Stockmann.