HAMBORNER REIT AG acquires retail property in Lengerich
Duisburg, 26 September 2019 - HAMBORNER REIT AG has signed the purchase agreement for a retail property in Lengerich. The local supply centre "Markt Karree" is situated at an established and convenient retail location in the centre of the town in North Rhine-Westphalia.
The main tenant of the roughly 4,600 m² property is the food retailer EDEKA, which has signed a long-term lease. Right next door to the EDEKA supermarket, which accounts for around three-quarters of the property's total area, there are two other units let to Takko Fashion and Deichmann. The weighted remaining term of the leases is around 13 years. With annual rental income of EUR0.73 million, the purchase price of the property is EUR14.2 million with a gross initial yield of 5.2%.
The property is being sold by a project development company. The transaction was brokered by SQM Property Consulting. Payment of the purchase price and transfer of ownership of the property are provisionally scheduled for the fourth quarter of 2019.
About HAMBORNER REIT AG
HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around EUR1.5 billion. The portfolio focuses on large-scale retail parks and properties, profitable offices and medical practices and attractive high street properties in major German cities and mid-sized centres.
HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainable dividend policy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.
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