Three of the five properties will already become revenue-effective as of 1st October 2007.
These include a commercial and services centre in Nürnberg. The building has floor space amounting to 11,527 m² and the tenants include a job promotion centre and a specialist retailer for electronic goods. In addition, a combined warehouse and office building in Regensburg, which is let to a wholesaler for electrical goods and to a logistics company, is expected to contribute to the expansion of the VIB Vermögen AG. The property comprises a lettable area of 9,537 m². And finally, real estate comprising a production facility with its own storage area and annexed offices has been acquired, and will be revenue-effective as of October 2007. The real estate is situated in the greater area of Nürnberg and the building, which has a floor space of about 6,500 m², is let to a mechanical and automation-engineering company and to a wholesaler.
Two further properties will become revenue-effective as of 1st January 2008: for instance, an office building in Nürnberg with an area of 4,625 m² that is being let primarily to a public authority. In addition, the VIB Vermögen AG is acquiring a property with production and logistics facilities in the greater area of Ingolstadt. The building has a floor space of 9,741 m² and is let to various companies operating internationally.
In addition to the five commercial properties, the VIB Vermögen AG has also been able to secure an attractive piece of land in Ingolstadt for a purchase price of EUR 4.6m including the acquisition costs. The piece of land comprises an area of about 12,400 m² and is to be developed as a retail and services centre. The company has already received initial enquiries from interested parties with good credit ratings. On completion of the property, the VIB Vermögen AG expects a rental yield of over 8%.
Ludwig Schlosser, CEO of the VIB Vermögen AG, sees his strategy confirmed: “We are profiting from our position in the market and can continue to acquire high-yield, attractive properties located in Bavaria. Through the most recent acquisitions, our portfolio has increased to around 40 properties. These generate rental income of over EUR 23m on an annualised basis.”