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Warburg-HIH Invest Real Estate (“Warburg-HIH Invest”) just acquired the Kopernikusquartier property development in Heidelberg from the Kreer Group based in Cologne. The lettable area of the new-build office scheme, located on Czernyring, adds up to around 6,900 square metres, which divide into around 5,850 square metres of office space and around 1,020 square metres of retail units. The five-storey building also provides 100 underground parking spots. It is projected to be completed by year-end 2023. The transaction took the form of an asset deal and was closed on behalf of an individual fund. It was agreed not to disclose the selling price.
About 60 percent of Heidelberg’s workforce are employed by knowledge-intensive service providers and by industrial high-tech companies. The city has seen a demographic growth by roughly ten percent since 2010. Moreover, the population is very young compared to the national average: Around 39 percent of the residents are below the age of 30.
The subject property is situated in the recently established Bahnstadt office location. Bahnstadt represents one of the biggest urban development projects in Germany. On an area of 116 hectares, housing for around 6,800 people and workplaces for up to 6,000 will be created by 2022. All of the buildings in the new quarter are constructed as climate-friendly passive houses. Overall, approximately two billion euros are being spent on the urban development project. Kopernikusquartier is the second property development that the Kreer Group pursues in Heidelberg.
Kopernikusquartier has very convenient access to public transportation and long-haul transport. Heidelberg’s central railway station is only 600 metres away. Driving time to Heidelberg’s historic town centre is seven minutes. Moreover, the Westarkaden neighbourhood retail centre is located in the immediate vicinity.
Image source: Bernhardt+Partner Architekten.
Source : Warburg-HIH Invest