max-planck-straße

erkrath

initial situation

• Top commercial location near the Hildener Kreuz intersection
• 100 % let to two companies with short-term leases
• Main tenant A (95 %) was taken over by national group and plans to move out after lease expires; tenant B (5 %) is seller and also plans to move out
• Rental space let approx. 30 % below market level
• Building partially renovated and upgraded in 2011

objective

• Repositioning and re-letting in 2022 after existing tenants move out
• Raising the rental reserves of approx. 30 %
• Options: Global letting to overall user with long-term lease (5-10 years) or division into smaller rental areas (6-8 tenants)
• Energy refurbishment and remediation of structural deficiencies
• Long-term maintenance of status quo planned

implementation

• Termination of both tenancies as of 31/05/2022
• Negotiation with global tenant for long-term lease
• Energetic refurbishment to KFW 40 standard with renewal of: Roof, façade, windows, building services, PV system, air-heat pump, underfloor heating, partial deconstruction of hall, new gates, conversion of office and social areas