HIH Invest Real Estate (HIH Invest) has sold a commercial building in Speyer’s pedestrian zone to Spiramax GmbH & Co. KG, represented by ems Schäfer Consultants from Worms. The property consists of two parts of the building at Maximilianstrasse 70-71 and Korngasse 26 with a total of 803 square meters of land and 2,368 square meters of rental space. Almost all of the space has been let to the clothing chain C&A for another three years.
The buildings, consisting of one basement and three upper floors, were constructed in 1648 and 1983 respectively. They are connected to each other on the second floor via a glazed bridge. The older part of the building with a listed facade was completely renovated in 1972. Modernizations and conversions took place in 2001 and 2005/2006. The property has belonged to the portfolio of an individual fund of a German pension scheme since 2014.
“We are pleased that we were able to sell the property with a good selling price and a satisfactory total return. We have found the ideal buyer’s representative in ems Schäfer Consultants,” commented Felix Meyen, Managing Director of HIH Invest, on the transaction. “A plus point in the sales negotiations was the location with above-average retail-relevant key figures. Maximilianstrasse is one of the busiest shopping streets in the city.”
The buyer’s representative, ems Schäfer Consultants, looks after family office units from Worms, which already own the neighboring Kornmarktpassage. The residential, office and commercial building is connected to the newly acquired property by a shared underground car park. “As a boulevard in the old imperial city, Maximilianstrasse in Speyer is a very special location. We are very pleased that we were able to acquire another building complex for our real estate portfolio in this historic area right next to our Kornmarktpassage,” says Stefan Schäfer, Managing Director of ems Schäfer Consultants.
