Retail

Local Supply Centre with Edeka and City Brunswick as Anchor Tenants

Welfenplatz 17 Braunschweig, Niedersachsen Germany 38126
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key Facts

Tenure Type Freehold
Building Area
Land Area
Total Parking Space
Occupancy 85.0 %
Wault 6.3

Property Description

The historic building was constructed in 1938/39, so there is a public interest in its preservation due to the year of construction. In 2004 the property has been renovated.

The building is divided into a main and ancillary building and currently offers an occupancy rate of around 85% with a WALT of 5.8 years (as of September 2020). On a plot size of approx. 5,381 m² about 2,593 m² rentable area was realized.

The anchor tenant of the investment is Edeka with a remaining term of around 9.3 years, which has leased the ground floor in the main building.

The second largest tenant of the property is the city of Braunschweig, which operates a youth center and a neighborhood center in the main building and a senior citizens meeting place in the adjacent building. The city of Braunschweig is interested in converting the space and extending the lease at the same time.

The parking lot in front of the building offers about 78 parking spaces.


Investment Highlights

  • Brunswick - second largest city in Lower Saxony with strong retail trade indicators
  • 70% of the rental income generated by Edeka and the City Brunswick
  • 9.3 years remaining lease term EDEKA
  • 5.8 years WAULT (total investment) (Status: September 2020)
  • attractive and risk-averse multi-tenant mix with retail and partly public institutions
  • Südstadt district near the center as a highly frequented area
  • Upside potential by leasing up vacant areas and space conversions on the upper floors of the property
Last Updated Date: 07 Sep 2020
Boris Wachter
Boris Wachter
Regional Manager Hanover
Michael Urmann
Michael Urmann
Senior Consultant

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Last Updated Date: 07 Sep 2020

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