News Detail

TLG IMMOBILIEN AG rents out around 3,800 sqm in office properties in Berlin and 1,300 sqm of retail space in Stralsund out of its remaining vacant space

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

2016-09-06 / 07:00
The issuer is solely responsible for the content of this announcement.


Press release

TLG IMMOBILIEN AG rents out around 3,800 sqm in office properties in Berlin and 1,300 sqm of retail space in Stralsund out of its remaining vacant space

- The office property 'Spreétage' in Berlin is now fully let

- The original vacancy rate of the office property 'Erlenhöfe' has been reduced by around 60% just five months after its acquisition

- Around 1,300 sqm of retail space in 'Quartier17' in Stralsund has been rented out in a long-term agreement

Berlin, 6 September 2016 - The three rental agreements signed by TLG IMMOBILIEN AG recently underline the success of its business model focused on growth and income optimisation:

In the office property 'Spreétage' in Berlin, the last 580 sqm of vacant space was successfully rented out to a player operating in the social economy for a term of seven years from 1 March 2017. When the asset was added to the portfolio in 2014, the property at Kaiserin-Augusta-Allee 104-106 had an EPRA Vacancy Rate of around 11.5%, whereas now it is fully let.

Additionally, around 3,200 sqm of vacant space in the office property 'Erlenhöfe' in Berlin, which was acquired in spring 2016, was occupied through a range of new rental agreements. Taking these agreements into account, the EPRA Vacancy Rate has reduced from 11.5% to 4.5%. Most recently, a five-year rental agreement was signed with another digital company for around 2,000 sqm of space.

'These ongoing successes are also due to the persistently high level of demand for space in the office market in Berlin; a fact which fills us with optimism in light our recent acquisition of an office property in Berlin-Tegel', says Sven Graven, Head of Northern Branch at TLG IMMOBILIEN AG.

TLG IMMOBILIEN AG can also report that it has rented out around 1,300 sqm of retail space to the retail chain dm (cosmetics, healthcare, household products, health food) in 'Quartier17' in Stralsund. As part of this rental agreement, areas on the ground and upper floors of the building - some of which had been empty for some time - were connected structurally. dm entered into an agreement for a term of 12 ½ years. As a result, the EPRA Vacancy Rate for the property has fallen to 5.5% (31 December 2015: 9.7%).

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 stock exchange-listed leading commercial real estate company focusing on Berlin and growth regions in Eastern Germany. For 25 years, TLG IMMOBILIEN AG is synonymous with real estate expertise in Germany's East. 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. TLG IMMOBILIEN AG focuses on managing a high-quality portfolio of office properties in Berlin and other regional economic centres, as well as 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 very long-term rental or lease agreements.

As at 30 June 2016, the value of the properties under IFRS totalled EUR 1,983 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 17.33.



2016-09-06 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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