The historic building was constructed in 1938/39, so there is a public interest in its preservation due to the year of construction. In 2004 the property has been renovated.
The building is divided into a main and ancillary building and currently offers an occupancy rate of around 85% with a WALT of 5.8 years (as of September 2020). On a plot size of approx. 5,381 m² about 2,593 m² rentable area was realized.
The anchor tenant of the investment is Edeka with a remaining term of around 9.3 years, which has leased the ground floor in the main building.
The second largest tenant of the property is the city of Braunschweig, which operates a youth center and a neighborhood center in the main building and a senior citizens meeting place in the adjacent building. The city of Braunschweig is interested in converting the space and extending the lease at the same time.
The parking lot in front of the building offers about 78 parking spaces.
- Brunswick - second largest city in Lower Saxony with strong retail trade indicators
- 70% of the rental income generated by Edeka and the City Brunswick
- 9.3 years remaining lease term EDEKA
- 5.8 years WAULT (total investment) (Status: September 2020)
- attractive and risk-averse multi-tenant mix with retail and partly public institutions
- Südstadt district near the center as a highly frequented area
- Upside potential by leasing up vacant areas and space conversions on the upper floors of the property