Broker Savills has advised on the sale of the Charlotte office and high-street property at Charlottenstraße 60-61 in Berlin-Mitte.
The asset was sold by a family office to a foundation, which will take forward plans for the building's refurbishment. The property currently comprises a traditional office building from the Gründerzeit period and a modern building from 2,000 and has a total gross floor area of 6,600 m2.
Chocolate manufacturer Rausch recently added office space to the third floor, while a further 2,600 m2 of former hotel accommodation is set to be converted into offices in spring 2019.
'The location and architecture of the building speak for themselves and offer significant potential for capital growth over the long-term. Large office space is a rare commodity, particularly in central locations of Berlin, and there is currently no sign of this trend abating,' said Steffen Pulvermacher, director investment Berlin for Savills in Germany.
