GEG German Estate Group has acquired the training centre of the North-Rhine Westphalia police force located in Neuss from Gateway Real Estate. The investment was made on behalf of the "GEG Public Infrastructure I" fund and amounts to approximately €36m. The building, which has been let to the German state of North-Rhine Westphalia under a long-term lease is being used by the State Authority for Training, CPD and Human Resources of the North-Rhine Westphalia Police. The building was previously used as a training centre by Deutsche Telekom, and as Commundo conference hotel.
Built in 1970, the complex comprises 12 connected single-storey buildings with an aggregate rental space of 16,300m² and 206 parking spaces. The buildings feature numerous training rooms and auditoriums, a sports hall and a restaurant. The seller is carrying out extensive modernisation work, which is set to be completed in the next weeks.
The buyer was advised by Ashurst and Drees & Sommer, while HauckSchuchardt advised the seller.
