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 from Berlin. Seller of the property Am Bahnhof 2-5 is an affiliate company of a listed public company.
Close to the city centre, the property features a vacant, approx. 4,000 sqm office building earmarked for demolition to make way for new development.
The buyer plans a brand-new specialist retail centre with approximately 4,000 sqm of supermarket space. A German retail group has already bought the project off-plan 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.
Acting on instruction from the seller to market the property, Winters & Hirsch also advised the Berlin buyer on the acquisition.
The parties have agreed not to disclose the purchase price.