Ability Group has sold all German retail properties
The Ability Group from the UK, innately a hotel investor, has completely sold its German retail stock. The properties with a combined total of approx. 15,000 sqm of retail space were scattered across the German States of North Rhine-Westphalia, Schleswig-Holstein and Mecklenburg-Hither Pomerania. Aengevelt was exclusively contracted with brokering the transactions. The retail price for the whole package was increased through early lease extensions with the respective main tenants and selling the properties individually, said Aengevelt. The price is clearly in the “double-digit million-euro range”. The package included the Neptun shopping centre in Rostock, which F&C Reit acquired in 2014 for a rumoured price of approx. €12mn, as well as a specialist retail centre in Lübeck, which went to the Saller Group. Moreover, Ability also held properties in Düren, Karken and Weidenkamp, according to its website.
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