Description:
TODO162
The office building is in Western Ortsrand in a small trade area on the south side of Wollgrasweg. The street is a Cul-de-Sac with a roundabout. Public transport can be reached in a few minutes by foot. The main road, motorway and airport are just a few minutes away by car.
The building was erected in 1969 and was used as a publishing house for 30 years. After the move of the publishing house the warehouse section was completely rebuilt into modern offices and part areas into laboratories. The old offices have been completely renewed. The buildings are modern and a good condition.
The innovation and development Hohenheim (IBH) GmbH, which was established in 1999, has the goal of promoting innovative business foundations. The IBH is a daughter
company of the University and offers high home services in national and multinational projects.
Since the entrance of the IBH into the building they have made extensive changes. On the basis of the good location (next to the university of Hohenheim) as well as the high level on investments in 2005 into the building, the tenant requested that the lease be extended early until 31.12.2014.
The gross rent is €166,314, since the real estate tax and insurance cannot be put down to the tenant, therefore the net rent amounts to €157,074. A further development of the plot of land in the garden area is possible.
Property with modern furnishing in a central location with very good infrastructure. The Tenant is 100% subsidiary company of the University of Hohenheim and is a long term
tenant until 12/2014.
Build Year: 1969
Renovation: 1998/99
Total Area: 3,726 sqm
Rental Income: Net: €157,074
Gross: €166,314
Purchase Price: €2,100,000
Yield: Net: 7.47%
