Warburg-HIH Invest has acquired a new-build office scheme at Dusseldorf Airport that is fully let on forward commitments over a ten-year period. The SHIFT project of the Dragon Bauprojekt, a wholly-owned subsidiary of Red Dragon Holding, will have a planned gross lettable area of 6,370m² and is earmarked for the portfolio of the “Deutschland Selektiv Immobilien Invest” fund. Sole tenant is the internationally active tax services firm WTS. The completion is scheduled for summer 2020. The purchase price was not disclosed.
“Among the distinguishing features of this landmark property are a modern specification, high space efficiency and optimal alternative use potential,” said Stefanie Wicke, a fund manager at Warburg-HIH Invest. “Moreover, the property is being built to the Gold criteria of the German DGNB sustainability standard.”
“The location of Airport City directly next to Dusseldorf’s airport makes it safe to expect persistently strong demand for accommodation, especially among consultancy firms,” elaborated Hans-Joachim Lehmann, Managing Director at Warburg-HIH Invest. “The site combines the requirements of global mobility with an attractive living and working environment of a vibrant major city.”
