TLG IMMOBILIEN AG / Key word(s): Real Estate
TLG IMMOBILIEN acquires commercial property in Dresden's city centre
- Virtually fully-let office property with highly creditworthy anchor tenants
- Established location at Ferdinandplatz in direct proximity to Prager Straße, Dresden's main shopping artery
- Purchase price of EUR 10.3 million
- TLG IMMOBILIEN further expands its office property portfolio in downtown Dresden
Dresden/Berlin, 4 February 2015 - TLG IMMOBILIEN AG has acquired a commercial property in Dresden, further expanding its portfolio in Saxony's capital. The purchase agreement for the downtown property was signed yesterday. The property was sold by private foreign owners for EUR 10.3 million.
The property has some 6,400 square metres of lettable space, of which 5,700 square metres are designated for office use and the remaining 700 square metres for retail space. The tenants include the City of Dresden and other companies with excellent credit ratings such as HUK Coburg and SEB AG. With a current vacancy rate of just four per cent, the property is almost entirely let.
"With this acquisition, TLG IMMOBILIEN continues to expand its strong presence in Dresden's city centre", said Niclas Karoff, member of TLG IMMOBILIEN AG's Management Board. In addition to other properties such as the Zwingerforum at Postplatz, the Wilsdruffer Kubus, the Am Wall commercial property and the Margonhaus, this acquisition represents an ideal expansion of TLG IMMOBILIEN's portfolio within the "26 ring road" encircling the city centre. "Dresden's continuing positive economic development, the prime location, high occupancy rate and attractive tenant structure represented the key reasons driving this acquisition", Karoff continued.
The Ferdinandplatz property was built in 1994. Ferdinandplatz is centrally located in the city's downtown district. Prager Straße, Dresden's main shopping artery, and the two main downtown shopping centres are within walking distance. The location is easily accessible by public transportation. The underground car park has 80 tenant and visitor parking spaces. TLG IMMOBILIEN was itself a tenant in this property prior to moving into the Margonhaus property.
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