Successful sale of the loft house in the neighbourhood development I/D Cologne

by   CIJ News iDesk III
2023-09-12   08:51
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The project developers responsible for I/D Cologne, Art-Invest Real Estate and OSMAB Holding AG, successfully sold the Loft Haus to a German family office. The building, which was completed in April, has around 5,800 m2 of office space and is fully let: Long-term contracts are in place with automotive group Renault Germany as the main tenant, as well as hotel operator The Chocolate on the Pillow Group and software service provider FLS. Savills acted as exclusive advisor to the vendor; the parties agreed not to disclose the purchase price.

The EU taxonomy-compliant and DGNB Gold certified property is located in a prominent position in the new city quarter. The striking clinker brick building has a two-storey entrance hall as well as spacious roof terraces that emphasise the modern loft architecture. An additional eye-catcher of the loft house is an inviting forecourt designed in the style of a living room: on an elaborately shaped "carpet" made of light mosaic stones, several four-metre-high "desk lamps" in bright red tones adorn the outdoor area. With light-flooded offices, its own bicycle cellar as well as changing rooms and showers inside, the technically top-equipped building offers its users the greatest possible comfort.

In addition to the Haus am Platz and Patiohaus properties, which were sold to BNP Paribas Real Estate Investment Management more than three years ago, the Loft Haus is now the third building in the quarter for which a buyer has been found. "We are very pleased to have found an excellent partner in the family office, which immediately recognised the advantages of the Loft Haus and the high potential of I/D Cologne. Even in the current challenging market environment, it shows that this neighbourhood development is highly resilient and remains an attractive investment location," says Arne Hilbert, Managing Director at Art- Invest Real Estate. "The transaction shows once again that there is still a high demand for commercial real estate in the region that is one hundred percent well thought out," adds Holger Kirchhof, board member of OSMAB Holding AG.

Embedded in the mature industrial and cultural location of Schanzenstraße in the most populous district of Cologne-Mülheim, I/D Cologne plays an important hinge function. Of the eleven construction phases to be realised here with a gross floor area of 160,000 m2 , four other buildings as well as the Schanzenplatz have already been put into operation in addition to the Loft Haus. The architecturally varied quarter already enjoys great popularity thanks to its diverse gastronomy offerings as well as the Moxy Hotel and the I/D car park.