November 23rd, 2017
Contact person for the press
- The property is located on a plot of land measuring around 11,000 square meters and has around 20,000 leased square meters of commercial space.
- Project developer plans construction measures and inspects building extension of around 8,000 square meters
- Structured selection process of the new investor was organized by BGA Invest
Düsseldorf / Munich. The real estate company Becken, specialist for the development and realisation as well as the long-term asset and investment management of commercial and residential properties, has acquired an office property in Düsseldorf. The property at the corner of Luisenstraße/Helmholtzstraße is the former Stadtwerke headquarters; the current main tenant is the Düsseldorf Jobcenter. The property has a plot of land of around 11,000 square metres and around 20,000 leased square metres of office and commercial space. The property also has 163 parking spaces and 51 parking spaces in an underground car park. The seller is a family office from Lower Saxony that acquired the property in 2010. The parties agreed not to disclose the purchase price. The real estate transaction was brokered by BGA Invest.
The project developer Becken is planning extensive construction measures for the acquired property. For example, additional rental space is to be created for existing tenants as of next year. Other renovation and refurbishment measures are also being carried out, for example on communal areas. "In addition, the construction of an extension with a gross floor area of up to 8,000 square meters, for which building rights have already been granted, is being examined," explains Stefan Spilker, Managing Director of Becken Holding. "We are convinced that this property in a prime location in the centre of Düsseldorf has further development potential. This benefits not only the tenants, but also the area around Düsseldorf Central Station."
The previous owner had already carried out extensive renovation and maintenance measures in recent years and thus increased the occupancy rate to almost 100 percent.
Pedestrian area instead of traffic chaos at the main station
The location of the Jobcenter property is becoming more and more attractive since the decision was taken to build three international hotels on the neighbouring site. By 2020/2021, an Adina, a Hampton by Hilton and a Premier Inn with more than 700 rooms, as well as an underground car park with approx. 240 parking spaces, will be built there. In addition, the City of Düsseldorf and Deutsche Bahn agreed on a redesign of the area. Between Konrad-Adenauer-Platz and Mintropplatz a traffic-calmed pedestrian area is to be created. "This will also significantly improve the location quality of the office building in Luisenstrasse," explains Stefan Spilker.
BGA Invest finds suitable partners nationwide
The real estate transaction was arranged by the Munich company BGA Invest. The consulting firm uses transparent, structured procedures to find suitable institutional investors for real estate. "Thanks to our investor database and the structured process, we can find the right partner nationwide for even the most special investments," explains Hendrik Hofmann, Head of Investment at BGA Invest. The network of potential investors ranges from property developers - as in the case of the Düsseldorf project - to banks, family offices and foundations. Above all, BGA Invest works closely with important family offices, which play an increasingly important role on the real estate market as buyers and sellers.