The experts at Berlin-based real estate agents Winters & Hirsch have advised a Frankfurt pension fund on the acquisition of a retail property in  the seaside resort of Ueckermünde in the German state of Mecklenburg-Vorpommern. The sale was structured as a forward deal.

Construction of the new building was completed in mid-2019. The tenant, Netto Marken-Discount AG & Co. KG, has signed a 15-year lease with a 3/5-year extension option.

Ueckermünde, a port town with a population of around 8,800, is located in the north-eastern state of Mecklenburg-Vorpommern, close to the border with Poland.

The new Netto Marken-Discount store is at Belliner Straße 67 in a residential area south of the city centre. In the immediate vicinity there are a number of well-known retail chains such as Edeka, Penny, Lidl, and dm.

The property has a total lettable area of approximately 1,500 sqm. The plot has around 6,500 sqm and accommodates about 80 parking spaces.

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

The seller was a property developer based in Gelsenkirchen.

The parties have agreed not to disclose the purchase price.