Stuttgart: Investment volume at record high – office market also strong
Colliers International reports that transaction volume on the Stuttgart investment market for H1 2019 was around €880mn, slightly above last year’s historically high figures (approx. €875mn). This was attributed to the sale of almost 200 center city apartments by a project developer to a German spezialfonds, as well asto the sale of the “Königsbaupassagen” shopping mall for €280mn. TD has learned from market insiders that the former involves furnished apartments in the “Look21” building which Scherbaum Group sold to Hamburg Trust. Market sources say that the purchase price is over €100mn. The office letting market started solidly with a take-up of 141,700 sqm (H1 2018: 120,400 sqm), according to Colliers. The forecast for the year as a whole is well over 200,000 sqm.
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