Savills on behalf of OIRP Investment 12 S.à r.l. has brought the Allee Center in Berlin, Germany to the market for a guide price of €60 million.
Located in the Bezirk Lichtenberg district, a residential suburb of Berlin, the 16,152 m² shopping center features 48-retail units and 316 car parking spaces. The ECE managed center benefits from being situated in a highly urbanised environment with strong anchor tenants such as Aldi , Kaisers and Woolworths.
Oliver Fraser-Looen, director of cross border retail investment at Savills, comments: “The Allee Center provides a unique opportunity to acquire an established, well performing shopping center in Berlin. The property offers investors secure long term income from an asset class that is highly desirable. Given the weight of capital in the market at the moment from both national and international groups we anticipate a strong level of interest.”
Richard Troake, managing director of Savills Frankfurt, adds: “We are delighted to be bringing the Allee Center to the market, since acquiring the asset our clients have enhanced the scheme and we believe it is the ideal sector and lot size to generate a high level of interest.”