Grand City buys new buildings in London


Grand City Properties, who has mainly focused on German residential property in the past, has sold assets worth €400mn so far this year and intends to use the funds for acquisitions primarily in London, mainly new structures in premium residential districts. The British capital already accounts for 7 % of the company’s portfolio.  Other “selective” acquisitions are planned in prime locations in Berlin. Grand City’s portfolio grew between December and September from about €6.4bn to €6.9bn, FFO increased by 15 % to €150mn. The firm reports like-for-like rental increases of 3.3 %, of which 0.4 percentage points are due to vacancy reduction.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.