PATRIZIA AG has completed the acquisition of a prime office building in Heidelberg from Tristan Capital Partners’ CCP 5 LL fund and DW Real Estate, on behalf of its clients.
Located on Speyerer Street in Heidelberg, the BREEAM ‘very good’ property offers c. 25,960 sq m of office and laboratory space as well as a fitness studio and c. 450 underground parking spaces for occupier use. The office space is 95% let to a range of strong occupiers and divisible into small office units of approximately 340 sq m, maximising flexibility for occupiers. The WALT amounts to almost eight years.
Located on one of Heidelberg’s main roads near to the city’s main railway station, the asset is part of Heidelberg’s Bahnstadt district, a flourishing and dynamic submarket in Germany’s oldest university town. Heidelberg’s prestigious university and its strong transport links contribute to the city’s popularity with students and young professionals, driving demand for high-quality, sustainable office space.
Source : PATRIZIA