Henderson Park has acquired the historic Mosse-Zentrum office building in central Berlin from Real IS AG. The company is now planning a ‘manage to green’ refurbishment of the building to create a flagship workspace that meets the demand for well-located, prime modern offices with strong sustainability, amenity and technological credentials, reflecting new trends in working patterns that have accelerated as a result of the pandemic.
Originally constructed in the early 1900s Mosse-Zentrum once served as a printing house and office of the ‘Berliner Tageblatt’ newspaper and is located in the heart of the Zeitungsviertel (newspaper quarter), where about 500 newspaper, printing and publishing companies were based at that time. The property comprises 37,000m² and has been acquired fully let to multiple blue-chip tenants.
Mosse-Zentrum is located adjacent to the new Axel Springer headquarters in the Berlin Mitte central business district, a highly sought micro-location between Checkpoint Charlie and Gendarmenmarkt, which attracts strong demand from investors and occupiers, including government organisations, public service providers and major corporates.
Henderson Park has appointed Stoke Park Capital as its local operating partner for ongoing asset management and the implementation of its business plan for Mosse-Zentrum. This is the second occasion Henderson Park has worked with the Germany-focused real estate investment manager, following an acquisition within the immediately adjacent Quartier Schützenstrasse in 2020.
Christophe Kuhbier, Managing Director at Henderson Park, commented: “With corporates all over the world reassessing their office requirements in light of changing working patterns and a competitive talent market, it has become acutely apparent that occupiers will not compromise on the quality and sustainability of their workspace or the services it provides. Our investment focus remains on the best located and connected office properties in leading European cities offering Grade A potential through active asset management with sustainability at its core.”
Robert Hellerschmied, Director at Henderson Park, added: “Mosse-Zentrum still has significant underlying potential which we, alongside our operating partner, intend to unlock through a range of green refurbishment initiatives that will create a workspace fit for modern occupiers and in line with our own ESG policy. We are also delighted to have worked together with Real IS in such a collaborative and professional manner to execute this transaction and are grateful to take over the ownership of this landmark asset.”
Axel Schulz, Global Head of Investment Management at Real IS AG, commented: “The Berlin-Mitte submarket is a highly attractive office location in Germany’s burgeoning capital, which benefits from low vacancy rates. We are pleased to be able to reinvest for our investors the funds acquired through the sale.”
