Berlin, 27 July 2021. The Inspiration Group, a privately-owned real estate investment company based in Berlin, has acquired a mixed-use property in Zossen, on the southern outskirts of Berlin. It includes a hotel, a residential building with twelve apartments, commercial accommodation and a development site. The parties have agreed not to disclose the purchase price.
The properties, which were built in 1995, have a total lettable area of some 3,700 square metres. The hotel, which is let on a long-term lease, has 50 rooms and an additional 9 apartments. There are also around 650 square metres of residential accommodation and c. 900 square metres of commercial space on the site. It is 80% let, providing corresponding rental uplift potential.
The around 5,700 square metre site on which the property stands has redensification potential on an additional c. 450 square metres. This would enable a further c. 1,200 square metres of residential accommodation to be realised. The developable site is in a quiet side position, adjoining a landscape conservation area and the Zossener Park.
Goor Rosenberg, CEO of Inspiration Group, comments: “Picturesque Zossen is located in one of the most dynamic regions in eastern Germany. This is associated with significant economic growth, resulting in increased demand for housing, which in turn provides considerable potential for future property development. We are confident that, taking into account the development of the region, in combination with the existing local leisure and recreational opportunities, a complex of buildings with a hotel, apartments and commercial space in an attractive location is an excellent investment.”
Zossen is situated around 20 kilometres south of Berlin. The third-largest town in the Teltow-Fläming district of Brandenburg, it has enjoyed positive population growth for years. The location benefits from a low trade tax rate, which has led to numerous companies becoming established here, thereby creating jobs.
The centre of Berlin is within about 45 minutes’ drive and the new Berlin Brandenburg airport within 35 minutes. The nearest motorway junctions are Rangsdorf on the A10 and Bestensee on the A13 (Berlin-Dresden).