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). An unnamed private individual, who is on the board of a real estate firm, has bought the property.
Completed in 1984, the two-storey, fully occupied building is situated on Im Domstift. The property comprises four residential units with approximately 357 sqm of rental space and 1,089 sqm of outdoor space.
The property went for 18 times the net annual rent plus purchasing costs. The parties have agreed not to disclose the purchase price.
The southernmost area of Tempelhof-Schöneberg district, Lichtenrade borders on the rural district of Teltow-Fläming in the state of Brandenburg. The property sold lies in a quiet, leafy residential area close to the old village core and 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.