Winters & Hirsch advises on sale of residential building in Berlin to private investor

The Berlin real estate agency Winters & Hirsch has advised Deutsche Wohnen AG on the sale of a residential building in Berlin’s Lichtenrade area (Tempelhof-Schöneberg district). The property was acquired by a private individual, a board member of a real estate company.

Completed in 1984, the two-storey, fully let building is situated on Im Domstift. The property comprises a total of four residential units with approx. 357 sqm of rental space and 1,089 sqm of outdoor space.

The property was sold at 18 times the net annual rent plus purchasing costs. The parties have agreed not to disclose the purchase price.

The southernmost sub-district of Tempelhof-Schöneberg district, Lichtenrade borders on the rural district of Teltow-Fläming in the state of Brandenburg. The sold property is situated in a quiet, leafy residential area close to the old village core with Lichtenrade public park. The nearby B 96 trunk road ensures fast road links.

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