Real estate investor in Nuremberg – CLS acquires an office property worth €18 million

Real estate investor in Nuremberg

Office properties offer a good investment if they are let long-term and the tenants are solvent customers. This is particularly true in urban locations where office space is scarce and demand is strong. These include the old imperial city of Nuremberg, now the second largest city in Bavaria after Munich and, together with Erlangen and Fürth, the centre of a conurbation with more than 1.3 million inhabitants. The investor mentioned in this article is also part of our List of the largest property investors in Germany.

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Single tenant property leased to Deutsche Telekom

The acquisition of an office property in Nuremberg’s Hansapark industrial estate near the telecommunications tower of the Franconian metropolis fits in well with this. Completed in 2014, the building is a so-called single-tenant property. These are properties that can only be used by a single or main tenant. In this case, the tenant is Deutsche Telekom. The existing rental agreement still has a remaining term of 7 years and guarantees rental income of EUR 1.1 million – a secure basis for the buyer to make his calculations. The four-story building with a rental area of 5,900 square meters was acquired by CLS Germany for EUR 18.2 million. The company is the German subsidiary of CLS Holdings plc Group, a British real estate investor. The CLS Group focuses on well let office properties in major European cities. Properties in so-called “non-prime locations” are sought after. Geographically, CLS prefers to invest in Great Britain, Germany and France. Content-Partner: Industryinsights.eu Source: Lifepr Picture source: Unsplash

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