Hamburg-based Warburg - Henderson has acquired the new Telfspark in Tyrol for about EUR 18 mln on behalf of the joint venture's Osterreich Fonds Nr. 1. The retail warehouse centre, situated directly adjacent to Autobahn A12, was opened in September 2008. It has a lettable area of around 9,400 m[sup]2[/sup] and comprises 17 business units, 95% of which are already rented out.

Hamburg-based Warburg - Henderson has acquired the new Telfspark in Tyrol for about EUR 18 mln on behalf of the joint venture's Osterreich Fonds Nr. 1. The retail warehouse centre, situated directly adjacent to Autobahn A12, was opened in September 2008. It has a lettable area of around 9,400 m2 and comprises 17 business units, 95% of which are already rented out.

Telfs is the third largest city in the region of Tyrol, after Innsbruck and Kufstein. Asset manager Henderson Global Investors Immobilien Austria advised on the acquisition.

'Authorisations for new retail warehouses and shopping centres in Tyrol are quite restrictive. Therefore, we see a lasting and stable demand,' said Eitel Coridaß, managing director at Warburg - Henderson.

The Warburg - Henderson Österreich Fonds Nr. 1 was launched in December 2002 and targets German and Austrian institutional investors. The fund focuses on office and commercial property in Austria. It has an existing portfolio of 13 properties with an approximate value of EUR 270 mln, located in Vienna, Steyr, Parndorf, Vienna Neustadt, Vienna Neudorf, Neusiedl, Leoben, and now Telfs.

Established in 2001, Warburg - Henderson is a joint venture between the German private bank M.M. Warburg & CO and UK property asset manager Henderson Global Investors. To date, the KAG has launched 11 property funds for German and international investors. These investors are mainly insurance companies and pension funds. The assets under management amount to EUR 2.7 bn.