Metropol Immobiliengruppe has expanded its portfolio in the light industrial sector with the acquisition of a business park property comprising warehouse and office space in a commercial zone of Bergisch-Gladbach-Refrath.
The property at Auf der Kaule 25-27 near the boundary with Cologne comprises a site area of around 11,000 sq m and a lettable area of approximately 4,500 sq m. Klaus G. Sack, Managing Director of Metropol Immobiliengruppe: “We see development potential in light industrial property and will continue to invest in the sector.” The vendor was a private individual who was advised by global real estate services provider Savills during the sale process.
“Thanks to its location to the east of Cologne, good transport links and long-standing tenant base, the light industrial business park has significant development and value-add potential. Combined with the fully occupancy, this represents an optimal investment case,” says Elmar Wirths, Director and Head of Cologne Office for Savills.
Tenants at the property, which was modernised in 1996/1997, comprise a vibrant sector mix with a fitness centre as the anchor tenant. The warehouses not only provide space for distribution and storage but can also be used for production and administrative space.