Aengevelt is brokering the sale of a fully let residential/commercial building in a prime location on Birkenstraße in the sought-after district of Flingern-Nord on behalf of an exclusive private individual. The buyer, a local real estate company, acquired the property to expand the portfolio and further value-adding development. The property comprises eight residential and two commercial units with a total lettable area of around 700 m². The purchase price was not disclosed. The gross initial yield is stated at around 4.8% p.a.
"The acquiring company was looking for a qualified investment with good building fabric and a high level of rental security in Düsseldorf to expand its local portfolio. It is precisely these requirements that the residential/commercial building brokered by us fulfils: It is located in an excellent location in the established and sought-after district of Flingern-Nord and has a wide range of local amenities as well as very good public transport connections in the immediate vicinity. In addition, the property offers further value creation potential in view of the low rents compared to the surrounding area. All in all, this is a sustainable investment," says Fabio Mata, expert from the Investment & Development team at Aengevelt Düsseldorf responsible for the transaction, describing the property qualities and adding: "The purchase price factor of 21 times the annual cold rent confirms the continuing high demand for corresponding properties in popular residential and urban districts.
