The Canada Life Assurance Company has purchased the Breite Strasse 3HOCH5 office building in Dusseldorf’s banking quarter for an undisclosed sum. The seven-storey building, comprising 6,500 m[sup]2[/sup] of office and retail space, was sold by investors Momeni Project Development, the NPC Group und HCI Developmentfonds I. The net initial yield was reported to be considerably below 5%.
The Canada Life Assurance Company has purchased the Breite Strasse 3HOCH5 office building in Dusseldorf’s banking quarter for an undisclosed sum. The seven-storey building, comprising 6,500 m2 of office and retail space, was sold by investors Momeni Project Development, the NPC Group und HCI Developmentfonds I. The net initial yield was reported to be considerably below 5%.
Canada Life was advised by Colliers Trombello Kolbel Immobilienconsulting (CTK) and Irish property consultants HWBC. Law firm CMS Hasche Sigle will be the building’s main tenant after CTK brokered a lease for over 4,000 m2 of space.
Located in one of the city’s prime locations, the Breite Strasse office building was fully let before completion last year. Its proximity to leading fashion and luxury street Konigsalle as well as significant banks and consultancy companies is notable as well. It was designed by renowned Hamburg architects Bothe Richter Teherani.
