The property at Aachener Straße 220 - 222, known as the Lindenthal District Town Hall, was purchased by a private investor community. Built in 2003, the two-part building complex comprises a total of around 15,400 m² of rental space, of which approx. 13,860 m² is office space and 550 m² is retail space. The remaining areas are used for storage and other purposes. In addition, there will be an underground car park with 101 parking spaces and a further 41 outdoor parking spaces. The larger part of the building at Aachener Straße 220 is used entirely by the City of Cologne. Aachener Straße 222 is home to a diverse mix of tenants including retail, classic office space and a doctor's practice. The seller of the property is an institutional investor; the purchase price was not disclosed. Savills acted as exclusive advisor to the seller throughout the transaction process.
"The property in Aachener Straße is located in an attractive district with numerous shopping facilities and restaurants as well as very good transport connections. With the City of Cologne as a long-term tenant, a stable cash flow is secured," says Tobias Schneider, Director Investment at Savills in Cologne.
