TLG IMMOBILIEN acquires centrally located office property at Leipzig central station

Approximately 26,500 square metres of lettable space in prime urban lo-cation

(lifePR) ( Berlin, )
TLG IMMOBILIEN has acquired the "Forum am Brühl" property in Leipzig located at Richard-Wagner-Straße 1, 2-3, and Brühl 65/67 as part of a share deal. The office property, which is located directly in the heart of the city across from the central station, was built in 1997 and features some 26,500 square metres of lettable space. TLG IMMOBILIEN and the seller have agreed to maintain the confidentiality of the purchase price and the transaction.

"The acquisition of the 'Forum am Brühl' property in the centre of Leipzig marks the third time this year that we have successfully expanded our portfolio focussed primarily on office and retail proper-ties", said Niclas Karoff, Member of the Management Board of TLG IMMOBIILEN, expressing his delight. The Company focusses its property portfolio primarily on Berlin and regional economic hubs in eastern Germany such as Dresden, Leipzig and Rostock.

As at 15 September 2014, the acquired property's net rent for the year excluding utilities amounted to approximately EUR 3.3 million. Thanks to its prominent location, the "Forum am Brühl" property is positioned excellently on the market. The property has renowned tenants with excellent credit ra-tings such as Deutsche Bahn, Deutsche Apotheker- und Ärztebank and SBK Siemens. Nearly all of the property's lettable space (approx. 90 per cent office space and approx. 10 per cent retail space) is let and subsequent letting promises the potential for further growth over the coming years.

"We have been observing the situation on the office property market in Leipzig for a long time now", said Niclas Karoff. "Leipzig increasingly stands out for its rising employment in the office seg-ment, falling vacancy rates and rising rents in locations that we favour. In addition to the comparatively low volume of new developments, this makes investments in established urban locations interesting for us."

Thanks to its flexible design and layout, the "Forum am Brühl" property can be easily adapted to meet tenants' individual wishes. The property stands out for its aesthetically pleasing architecture and convenient parking options featuring 222 parking spaces.
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