HIH Invest Real Estate was able to extend the lease agreement with the city of Solingen for a total of 12,458 square metres for the town hall until the end of 2050. The ensemble at Walter-Scheel-Platz 1 is part of the portfolio of a special fund managed by HIH Invest Real Estate and consists of three components. The ensemble is dominated by the 10,786 square metre rental area of Building A, which accounts for around 70 percent of the total area of all 3 components. The city had originally rented this component in its entirety until 2038 and has now extended it ahead of schedule. The city has also extended 1,688 square meters of office and warehouse space in component C of the town hall until 2050. The remaining approximately 2,000 square meters in components B and C are allocated to retail, therapy and office space. The city's rental scope also includes 129 parking spaces.
Ken Kuhnke, Head of Large Tenant Support at HIH Real Estate, comments: "As with all our major tenants, we are in regular contact with the city of Solingen about optimisation requests. The municipality's agenda included a conversion to LED lighting and the installation of a photovoltaic system. Instead of looking at these requirements in isolation, we have put together a holistic rental package: HIH's services in the course of the extension include a complete conversion of the lighting to LED as well as a comprehensive roof membrane renovation. This is a prerequisite for the municipal utilities to be able to install and operate a photovoltaic system. HIH is responsible for the planning and construction preparatory work for the PV system."
Frederik Lammersen, Co-Head of Fund Management at HIH Invest, adds: "HIH's tenant support does not see itself as a mere administrator of existing contractual relationships, but as a strategic dialogue partner and advisor. Through regular personal support, needs can be identified long before they become challenges. In particular, the close cooperation between asset management and fund management on the HIH side enables fast and dynamic decision-making processes."
