TD News International: 20/11/2018

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Number of housing construction permits rising somewhat faster

20/11/2018 In the first three quarters, 262,800 housing units were approved in new and existing structures in Germany, as the Federal Statistics Office (Destatis) reports. That figure is 2.3 % higher than during the same period of last year. During the periods from January to August and January to July, the increase had been at 1.9 [...]

Deutsche-Hypo Index declines further – “long-term trend”

20/11/2018 The real estate climate index of Deutsche Hypo has declined by 11.5 % since the beginning of the year. “If you consider that in the past four years, worse sentiment than today was recorded only once, it does seem to be a long-term trend,” says Deutsche Hypo executive Sabine Barthauer. November brought a decrease by [...]

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La Française buys “Schumacher Kontor” in Hamburg

20/11/2018 The pension fund Hamburger Pensionskasse von 1905 has sold the historic “Schumacher Kontor” on Dammtorstraße 25. The buyer is asset manager La Française on behalf of the Gisev family office, which in turn acts on behalf of a Luxembourg fund. The “Schumacher Kontor” has about 4,500 sqm lettable space, was built in 1911/12 and modernized [...]

Hamburg: Godewind buys Pentahof for €60mn

20/11/2018 Godewind Immobilien is buying the office complex Pentahof in Hamburg-Fuhlsbüttel. The net purchase price for the property on Suhrenkamp 71-77 with 24,747 sqm lettable space is €60.6mn or €2,449/sqm. The building near Hamburg airport earns annual net rental income of €2.95mn and is nearly fully leased to the Shell oil group. The WALT is 4.9 [...]

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Munich: Urban Progress plans office building in Sendling

20/11/2018 Developer Urban Progress intends to build a so-called network building with 3,500 sqm floor space on the site of a former car repair shop on Gotzinger Straße in Munich-Sendling. The 5-story building called “comN” and designed by YES Architecture will have mainly office space (2,000 sqm for up to eight units). A 200 sqm space [...]

Nippon Express leases 10,000 sqm in VGP Park Hamburg

20/11/2018 Nippon Express has leased the last available logistics unit in VGP Park Hamburg in Rade. The Japanese logistics company intends to move into the property on Bei der Lehmkuhle 2 with roughly 7,400 sqm logistics space, 310 sqm office space, 2,500 sqm outdoor space and twelve parking spaces in January 2019. Realogis advised and brokered the lease. The [...]