- District police authority of Rhine-Erft district the main tenant on long-term lease
- Seller and developer is the Tecklenburg Group from Straelen
- Completion projected for mid-year 2023
Hamburg, 31. May 2021 – Warburg-HIH Invest Real Estate (“Warburg-HIH Invest”) just acquired an office and administrative property development in the district capital of Bergheim near Cologne. Seller is the Tecklenburg Group based in Straelen, which developed the project and is now constructing the building. It is planned to seek a DGNB Gold certification for the new-build scheme, which is already let in its entirety on a 20-year lease to the State of North Rhine-Westphalia, acting on behalf of the district police authority of the Rhine-Erft district. The lettable area of the new building, which is located on Sportparkstrasse, approximates 12,100 square metres. In addition, there are about 340 parking spots on the plot of around 21,600 square metres. The property is earmarked for an individual fund managed by Warburg-HIH Invest. It was agreed not to disclose the selling price.
“We were able to secure the office scheme for our investor early on in the development phase. Since the property is let to a blue-chip tenant who is loyal to the location, it will generate stable long-term income streams. Moreover, the configuration of the floor plans implies a high alternative use potential that would permit converting the building for multi-tenant occupancy,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest. “The site is plausible as well, the region being one of the economically strongest in North Rhine-Westphalia, defined by a diversified industry structure and by long-term growth potential.”
The property benefits from convenient transport links, and is centrally located within the Cologne/Bonn region. The “Zieverich” rapid transit and regional railway station lies within walking distance. Driving time to downtown Cologne and to Leverkusen as well as to Cologne/Bonn airport is around 30 minutes each, while the A61 motorway is just five minutes away. Overall, the district area is traversed by five motorways (A61, A4, A555, A553 and A1).
The Rhine-Erft district shows positive demographic growth, and its population has increased by around five percent since 2010. The district is also home to a number or research and educational facilities. Its economic structure is characterised by the mid-market sector.
The property was planned by JBR-Partner Rotthoff-Nienhaus Architekten, an architectural firm based in Münster. The estate agency Blackbird Real Estate from Königstein acted as broker for the seller side. The legal and tax due diligences for Warburg-HIH Invest were conducted by Ashurst LLP. Drees & Sommer SE handled both the technical and the environmental due diligence.
“We were able to secure the office scheme for our investor early on in the development phase. Since the property is let to a blue-chip tenant who is loyal to the location, it will generate stable long-term income streams. Moreover, the configuration of the floor plans implies a high alternative use potential that would permit converting the building for multi-tenant occupancy.”
Hans-Joachim Lehmann, Managing Director Warburg-HIH Invest
