DGAP-News: TLG IMMOBILIEN AG / Key word(s): Contract/Real Estate
- Several tenants are renting around 4,750 sqm of office space with various lease terms
- The rents in the new agreements are around 28% above the market level on average
- The EPRA Vacancy Rate of the property has fallen to 26%
On average, in the first year the rents in the two new agreements are around 28% higher than the current market rent of 11.00 EUR/sqm at the location. These two new rental agreements have caused the EPRA Vacancy Rate of the property to fall to around 26%. TLG IMMOBILIEN is currently in negotiations with other potential tenants.
The office property at Kapweg 3-5 was built in 1997 and has seven floors with a total lettable area of around 18,200 sqm. The space can be arranged flexibly as individual offices or to be open plan. The tenants in the property currently comprise office users and medical practices. The property is situated on the popular Kurt-Schumacher-Platz in the heart of a district with optimal transport connections, not far from Tegel airport and in direct proximity to the shopping centre "Der Clou".
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.
|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|