IC Immobilien : Gruppe secures five-year extension to property management contract in Chemnitz

Thursday, November 9, 2017

IC Immobilien Gruppe's property management mandate for the Haus der Gewerkschaften in Chemnitz has been extended by BG-Immobiliengesellschaft mbH, Frankfurt/Main, for a further five years, commencing September 2017. IC Immobilien Gruppe has managed the property since 2008, providing commercial, technical and accounting property management services, together with letting management services.

Haus der Gewerkschaften, on Augustusburger Straße in the heart of Chemnitz, has been used by trade union tenants almost without interruption since its construction in 1929. Thanks to this and other Bauhaus-style buildings in the vicinity, such as the former Schocken department store (now Saxony's Museum of Archaeology) and the municipal swimming pool, Chemnitz was christened the 'City of Modernity'.

The property contains almost 3,000 square metres of office and commercial space, of which 1,900 square metres are currently let. The property's tenants are the regional associations of various national trade unions. Extensive restoration and modernisation works are scheduled for completion in 2018.

'The extension of our property management mandate for an additional five years is not only an endorsement of the continued confidence BG-Immobiliengesellschaft mbH has in our services, above all it is confirmation of our successful cooperation to date,' said Markus Reinert FRICS, Chairman and CEO of IC Immobilien Holding AG.