GPT Halverton has purchased an office complex in Berlin for the H2O fund. The property is located at Salzufer in the Charlottenburg quarter and has a rentable area of over 19,100 m². Around three quarters of this is office space. The remaining area is made up of storage and exhibition space, a restaurant and a fitness center.
The property consists of three interconnecting buildings which form a rectangular complex with a central courtyard. The buildings are currently let to ten tenants. The main tenant is Deutsche Bahn together with its subsidiaries. The vendor of the property is HIPPON Verwaltungsgesellschaft mbH & Co., a joint venture of IVG Development GmbH and Provinzial Versicherung.
Location
The complex is located in a prominent position on Salzufer, directly adjacent to the Landwehr Canal. Public transport can be reached on foot, with the Tiergarten suburban railway station and the Ernst-Reuter-Platz underground station only a few minutes away. From these, connections are available to the Lehrter train station, around 4.5 km distant. The A100 motorway is only 3 km away. Tegel Airport can be reached in around 15 minutes.
About the H2O Fund
GPT Halverton's H2O fund invests exclusively in the office market, purchasing properties in medium sized regional towns and cities. The Fund is in the process of investing a total of 1 billion in Germany, the Netherlands, Finland, Sweden, Denmark and France. The focus is on office buildings with a minimum value of 2.5 million and a minimum initial yield of 7%.
Source: Targa
