TLG Immobilien AG has successfully rented out 1,800 m² of retail space at Prager Strasse 4 in Dresden. The commercial building is therefore fully occupied again. Following the departure of two previous tenants from the property on the main shopping street in Dresden, the arrival of the new tenants will increase its value strategically. The restaurant business Burgerlich and Taschenkaufhaus, a business focusing on online retail, are expected to open on two floors in September 2017. Additionally, a branch of the optician Robin look is moving in on the ground floor. The building also features a branch of Targobank. The agent Comfort Berlin-Leipzig helped to broker the agreements.
Felix Freiherr von Bethmann, Head of Southern Branch at TLG Immobilien AG in Dresden said: "We are certain that the new combination of gastronomy and retail will increase the value of the location significantly." Renovations still have to be carried out before the new businesses can open and are due to start shortly as planning permission has been obtained. The property will generate an annualised in-place rent of around €700,000 in future and its Walt is around 8.1 years, factoring in the new rental agreements.
Burgerlich will become the new main tenant for a lettable area of 1,115 m² and has signed a 10-year rental agreement. ‘Burgerlich has its roots in Hamburg and is pursuing a modern premium burger concept with a strict home-made philosophy. Our cake studio is also due to open its doors in September 2017’, says Sven Freystatzky, one of the owners of Burgerlich. The optician Robin look will occupy around 80 m² of lettable area on the ground floor and will be a sub-tenant of Burgerlich.
Taschenkaufhaus will revitalise what used to be a rarely frequented service area as retail space. The rental agreement is for a lettable area of around 700 m² and has a term of 10 years. ‘After our original building in Leipzig, we are now opening our second flagship store in Dresden. This is an optimal location for us to provide our customers with a wide range of bags, rucksacks and luggage whilst complementing our online retail concept’, says Constanze Beier, a legal representative of Taschenkaufhaus GmbH.
