Warburg-HIH Invest has acquired a fully occupied commercial building with a gross lettable area of 1,908m² in Bonn, Germany. The property, which was modernised in 2013 and 2019, is earmarked for the “Warburg-HIH Perspektive Einzelhandel: Fokus Geschaftshauser” open-ended special AIF. The main tenant is the L’Osteria franchise restaurant, which occupies a lettable area of around 1,200m² on a fixed-term lease of twelve years and just opened for business on 22 January. The restaurant is operated and rented by the company MCH 3 Betriebsgesellschaft. Other units in the building are let to offices and doctors’ offices while rental flats occupy 190m². Overall, the leases result in an exceptionally long WALT of 10.3 years. The property was sold by Hahne Immobilien. The purchase price was not disclosed.
“We are delighted to have found in Warburg-HIH Invest an excellent partner for our original place of business,” said Managing Director Kent Hahne.
“A number of property developments near the central railway station of Bonn will cause the prime high-street area in the adjacent pedestrian precinct to be repositioned upon completion,” said Jens Nagelsmeier, Head of Retail Transactions at Warburg-HIH Invest. “The previously rather unappealing railway station forecourt will transform into an urban site marked by a high quality of stay and an attractive footfall as new retail, gastronomy and hospitality venues are added.”
“The acquisition underlines the selective and quality-focused set-up of the fund portfolio and perfectly complements the investment profile because of the location, the type of use, and the lease term,” said Thomas Christ, Senior Fund Manager at Warburg-HIH Invest.
