The former Deutsches Buchgewerbehaus at Gutenbergplatz 3-5 in Leipzig (Germany) has been sold by its owner, who was represented by ACREST Property Group GmbH, Leipzig based VICUS AG, the specialist in the project development of listed real estate in need of refurbishment.
The historic building, which stands on a site of 8,000 m², was built between 1898 and 1901 for the German book industry association. Following its destruction during the War and its reconstruction in 1945, the building was used as a trade fair venue. It has been vacant since 1991. The property provides around 260 parking spaces.
The property is part of a portfolio with currently 42 commercial properties, for which ACREST Property Group GmbH has been given the contract to provide asset management, transaction management, leasing, project development and project management services. ACREST currently manages around 400 properties. The portfolio has been managed by ACREST for the past 12 months and 9 properties have been sold to date.