News Detail

TLG IMMOBILIEN AG rents out around 1,800 sqm of retail space in Dresden's main shopping street

DGAP-News: TLG IMMOBILIEN AG / Key word(s): Real Estate/Contract

09.06.2017 / 07:00
The issuer is solely responsible for the content of this announcement.


Press release

TLG IMMOBILIEN AG rents out around 1,800 sqm of retail space in Dresden's main shopping street

- The gastronomy specialist BURGERLICH is renting 1,115 sqm

- The online retailer Taschenkaufhaus is renting around 700 sqm

- The optician ROBIN look is renting 80 sqm

- The property is therefore fully occupied

- All businesses are due to open in September 2017

Dresden, 9 June 2017 - TLG IMMOBILIEN AG has successfully rented out 1,800 sqm of retail space at Prager Strasse 4 in Dresden. The commercial building is therefore fully occupied again. Following the departure of two previous tenants from the property on the main shopping street in Dresden, the arrival of the new tenants will increase its value strategically. The restaurant business BURGERLICH and Taschenkaufhaus, a business focusing on online retail, are expected to open on two floors in September 2017. Additionally, a branch of the optician ROBIN look is moving in on the ground floor. The building also features a branch of Targobank. The agent COMFORT Berlin-Leipzig GmbH helped to broker the agreements.

'We are certain that the new combination of gastronomy and retail will increase the value of the location significantly', says Felix Freiherr von Bethmann, Head of Southern Branch at TLG IMMOBILIEN AG in Dresden. Renovations still have to be carried out before the new businesses can open and are due to start shortly as planning permission has been obtained. The property will generate an annualised in-place rent of around EUR 700,000 in future and its WALT is around 8.1 years, factoring in the new rental agreements.

BURGERLICH will become the new main tenant for a lettable area of 1,115 sqm and has signed a 10-year rental agreement. 'BURGERLICH has its roots in Hamburg and is pursuing a modern premium burger concept with a strict home-made philosophy. Our cake studio is also due to open its doors in September 2017', says Sven Freystatzky, one of the owners of BURGERLICH. The optician ROBIN look will occupy around 80 sqm of lettable area on the ground floor and will be a sub-tenant of BURGERLICH.

Taschenkaufhaus will revitalise what used to be a rarely frequented service area as retail space. The rental agreement is for a lettable area of around 700 sqm and has a term of 10 years. 'After our original building in Leipzig, we are now opening our second flagship store in Dresden. This is an optimal location for us to provide our customers with a wide range of bags, rucksacks and luggage whilst complementing our online retail concept', says Constanze Beier, a legal representative of Taschenkaufhaus GmbH.

Contact

Christoph Wilhelm
Corporate Communications
Phone: +49 30 2470 6355
E-Mail: christoph.wilhelm@tlg.de
Sven Annutsch
Investor Relations
Phone: +49 30 2470 6089
E-Mail: sven.annutsch@tlg.de
 

About TLG IMMOBILIEN AG
TLG IMMOBILIEN AG is a listed leading commercial real estate company in Germany that has been synonymous with real estate expertise for over 25 years. TLG IMMOBILIEN AG generates stable rental income and exhibits low vacancy rates, very good building stock and profits from its local employees' excellent market knowledge. As an active portfolio manager, TLG IMMOBILIEN AG is specialised in commercial properties for office and retail use: it focuses on managing a high-quality portfolio mostly comprising office properties in Berlin, Frankfurt/Main, Dresden, Leipzig and Rostock. The company also has a regionally diversified portfolio of retail properties in highly frequented micro-locations. The portfolio also includes seven hotels in Berlin, Dresden, Leipzig and Rostock. TLG IMMOBILIEN AG's properties stand out not only due to their excellent locations but also because of their long-term rental or lease agreements.

As at 31 March 2017, the property value amounted to EUR 2.2 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 18.62.

This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.



09.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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