HAMBORNER REIT AG / Key word(s): Enterprise/
HAMBORNER REIT AG - Contract signed for retail property in prime pedestrian zone location in Langenfeld
Duisburg, 26 May 2011 - HAMBORNER REIT AG is continuing its growth. With four properties in Bad Homburg, Regensburg, Brunnthal and Leipzig already added to the company's books this year alone, an agreement for a further attractive property was signed yesterday. The 'sass.am.markt' retail property, with an excellent location in Langenfeld's pedestrian zone, is a former Karstadt and later a Hertie department store that was gutted, fully renovated and extended by further parking spaces in 2010. The property has rentable space of around 6,300m² with annual rental income of approximately EUR1.2 million. Tenants include H&M, Intersport, dm, Das Depot and Tom Tailor. The investment volume is EUR 17.25 million with a gross initial rate of return of 6.6%.
The seller is a project company of the Sass family, who now lives in the US and has owned the property for over 40 years. During the renovation of the building into a modern city centre small-scale retail building, iandus Unternehmensgruppe, Dusseldorf, assumed the function of project developer and general planner. The transaction was brokered by SQM Property Consulting, Münster.
About HAMBORNER REIT AG
HAMBORNER REIT AG is a public limited company listed on the stock exchange which today works exclusively in the real estate sector and occupies a position as a portfolio holder for high-yield commercial properties. The basis of the company's sustainable rental income is a substantial real estate portfolio that is spread throughout the country. The main focus of the portfolio consists of attractive retail space in central city centre locations in Germany and resources centres. Furthermore, the property portfolio comprises highly frequented specialist stores and profitable office buildings, as well as doctors' surgeries, apartments and car parks.
Additionally, the company possesses around 2.4 million m² of undeveloped land, which is mainly located in the north of Duisburg and the neighbouring local authority districts of Dinslaken and Hünxe.
The outstanding features of HAMBORNER REIT AG are its many years of experience in the real estate and capital market, its lean and transparent corporate structure and its particular proximity to the tenants. The company is a registered Real Estate Investment Trust (REIT) and benefits at the company level from exemption from corporation and trade tax.
Tel.: +49 (0)203 54405-32
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|Company:||HAMBORNER REIT AG|
|Listed:||Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München, Stuttgart|
|End of News||DGAP-Media|