TLG IMMOBILIEN AG increases rents significantly in an office property on Alexanderplatz in Berlin
DGAP-News: TLG IMMOBILIEN AG / Key word(s): Contract/Real Estate
- Having been released by a major tenant, new agreements for 3,000 sqm of space have been signed
- Rent has increased by around 28% to 22.00 EUR/sqm on average
- H-Hotels AG and a leading software developer have signed new rental agreements
Berlin, 7 August 2017 - An office user has released 3,000 sqm of the approx. 5,000 sqm it was previously using in "Die Welle", a hotel and office property on Alexanderplatz in Berlin. In light of the strong demand for office space at this central location, TLG IMMOBILIEN AG (DE000A12B8Z4) has agreed to the contractual amendment and is using the opportunity to react to the dynamic development of rents through new rental agreements. On average, the rent has increased to 22.00 EUR/sqm as a result of the new rental agreements, which represents an increase of around 28% over the previous rental arrangements.
According to the Office Market Report 2017 published by Savills, the average rent in Berlin was 17.60 EUR/sqm in 2016 compared to 19.10 EUR/sqm in the first quarter of 2017.
The administration of H-Hotels AG and a leading software developer are the new contractual partners of TLG IMMOBILIEN AG. Both rental agreements have an initial five-year term with extension options.
About TLG IMMOBILIEN AG
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.
07.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||TLG IMMOBILIEN AG|
|Phone:||030 - 2470 - 50|
|Fax:||030 - 2470 - 7337|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|