Warburg-HIH Invest Real Estate has acquired the Carré Göttingen shopping centre for a special fund it manages. The parties agreed to maintain discretion about the purchase price.
The property, which was built in 1974 and last modernised in 2014, offers more than 14,000 m² of fully let commercial space on four floors. Retail accounts for the majority of space utilised at over 9,000 m². The centre’s balanced mix of tenants includes Saturn, tegut, TK Maxx and dm. The remaining space is taken up by services, bars and restaurants and medical and fitness facilities. The shopping complex also has an adjoining car park with more than 295 parking spaces.
Carré Göttingen is located at the beginning of Weender Straße, in a close proximity to the main campus of the Georg-August University, and It enjoys strong transport links.
“With Carré Göttingen, we have secured a well-established shopping centre in an attractive location that stands to gain from planned developments such as the expansion of the pedestrian zone and the strengthening of the micro-location thanks to additional anchor tenants,” commented Hans-Joachim Lehmann, Managing Director at Warburg-HIH Invest and responsible for Transaction Management Germany.
Ashurst, Frankfurt, provided legal assistance with the transaction while Drees and Sommer, Hamburg, provided technical advice. Gleiss Lutz and CBRE PREUSS VALTEQ acted for the seller, Kilderkin S.a.r.l., Luxembourg. CBRE was the real estate agent involved in the transaction.
