Winters & Hirsch advises on sale of retail property in Hohenstein-Ernstthal (Saxony)

The Berlin real estate agent Winters & Hirsch has brokered the sale of an approx. 12,600 sqm development site in Hohenstein-Ernstthal (rural district of Zwickau) in the German state of Saxony to a property developer based in Berlin. Seller of the property Am Bahnhof 2-5 is an affiliate company of a listed public company.

 

Situated close to the city centre, the property is improved with a completely vacant, approx. 4,000 sqm office building which is earmarked for demolition to make way for a new development.

 

The buyer plans a brand new local shopping centre for Hohenstein-Ernstthal. The development, which is to be made up of some 4,000 sqm of supermarket space, has already been sold by the Berlin developer to a German retail group as owner-occupier.

 

Hohenstein-Ernstthal is located directly on the A4 motorway, near the cities of Gera and Chemnitz. The district town of some 15,000 inhabitants is best known for its motor racing course, Sachsenring, which hosts the German race of the MotoGP, among other events.

 

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

 

The parties have agreed not to disclose the purchase Price.