M7 Real Estate (M7) sold a warehouse totalling 15,000m2 which includes 1,089m2 of office space, in Remels, northern Germany, on behalf of a separate account mandate: Azure which targets investments in Germany and the UK. Situated in the region of Lower Saxony in northern Germany, the property benefits from excellent arterial connectivity, with direct access to Autobahn 28, providing links to Germany’s wider motorway network.
Since the acquisition of the property M7 has successfully executed its business plan by re-letting the vacant warehouse space generating long-term income, increasing the overall occupancy of the asset from 50% to 89% and extending the WAULT to three years.
Richard Fletcher, Director of Transactions – Germany at M7 Real Estate, commented: “When we acquired this asset, we identified an opportunity to leverage our local market asset management expertise to lease the previously vacant warehouse space in its entirety. After successfully executing the business plan, we concluded that now was a good time to dispose of the property to crystalise value for our client.”
M7 was advised by Logivest.