The joint venture between Urbz Capital and Ivanhoé Cambridge has acquired a modern warehouse and office property with development potential in Mülheim an der Ruhr from the Mayestate Group.
The complex, built in 1992 on a 18,560 m2 plot of land, is being purchased as an urban logistics property with an area of around 9,943 m2.
It comprises a modern office building with a prestigious entrance area and about 130 parking spaces. The property is almost fully let and will be acquired in its current state.
In the medium term, the buyers plan to repurpose the hall building as a sustainable, last-mile warehouse and logistics property and will draw on existing potential offered by the site.
In the future, the property will thus increasingly help retailers and their service providers deliver to the population in the final mile to their front doors.
The property is located in the north-west of the city of Mülheim an der Ruhr, in a commercial district about two kilometres from the old town. Just one kilometre away is the junction to the B223 federal road (Konrad Adenauer bridge), a key link between the A40 and A3 motorways.
Dr Till Veltmann of Streitbörger Part from Hamm provided legal advice for the sellers and the Hamburg-based law firm Hogan Lovells International advised the buyers.
Realogis Immobilien Düsseldorf was responsible for the consulting and the sale of the property.
