TD News International: 14/05/2019

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Consensus forecast: Vacancies on the rise, but so are prime rents

14/05/2019 While the top 5 German office leasing and investment markets are currently still in good shape, the latest Consensus forecast by gif and CRES expects some indicators to worsen in 2020. In particular, vacancies in Berlin and Munich could increase again for the first time in many years. The majority of researchers believe this to [...]

Berlin: Streletzki builds 20,000 sqm office space on Salzufer

14/05/2019 Berlin-based Streletzki Group is building roughly 20,000 sqm office space in the north of Charlottenburg. Two new buildings totaling about 15.000 sqm are being erected on the site of the former Lanolinfabrik on Salzufer 15/16, and three landmarked structures with about 5,000 sqm are being refurbished. The architecture firm Collignon has been contracted to draw [...]

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Corestate: Profits down, forecast unchanged

14/05/2019 Corestate is reporting a drop in earnings by 5.3 % to €58.6mn during the 1st quarter. Adjusted group earnings declined by nearly a quarter compared to the previous year to €26.3mn. Still, the company states it had a solid start to the year and explains the difference with an unusually large micro-living transaction during the previous [...]

Lang & Cie. builds Deka office building in Frankfurt-Niederrad

14/05/2019 Developer Lang & Cie. is building an office building for Deka on the site of the deconstructed IBM offices in the Niederrad district, a spokesperson for the bank told TD upon inquiry. Around the middle of last year, TD had reported that the bank was looking for up to 70.000 sqm office space, whereupon market [...]

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Deutsche Wohnen reports higher profits

14/05/2019 Deutsche Wohnen has increased its income during Q1, primarily due to acquisitions and higher rental income. Operative earnings (FFO I) grew by 16.5 % to €144.2mn, with group earnings of €111mn (+7.4 %) on the bottom line. Contract rents logged a plus of 6.1 % to €204.7mn. As the listed company reports, it also invested [...]

Hamburg: Shipping company leases 6,000 sqm in old Karstadt building in Billbrook

14/05/2019 Shipping company “shipments.de Wördemann GmbH” has leased about 4,000 sqm storage and 2,000 sqm mezzanine space in Hamburg-Billbrook. The property on Werner-Siemens-Straße 63 is a former Karstadt building, for which broker Realogis has now found the second tenant. Last year, beverage distributor Flaschenpost had moved into €9,500 sqm. The lessor of the now fully leased [...]