17 Aug 2017
M7 Real Estate lets 800 sq m of café/restaurant space and extends leases on over 1,800 sq m in Hanover
Frankfurt, August 17 2017 − M7 Real Estate (M7), the pan-European investor and asset manager specialising in the regional, multi-let real estate market, has let around 800 sq m of café/restaurant accommodation in Hildesheimer Strasse 420-426, Hanover. The “Xiahui Hu China-Restaurant” has signed a long-term lease on the unit. Engel & Völkers Commercial brokered the deal.
The property is a retail warehouse scheme, constructed in 2003 on the site of the former Wülfeler brewery. The scheme comprises six buildings with a total lettable floor area of 10,500 sq m together with 80 parking spaces. The major tenants include a “dm” drugstore, Lidl, Siemes Schuhcenter, Bothe school of dancing, Burger King and Workwear Center.
Following this letting, the property is now 90% occupied. Only one unit, of around 570 sq m, is still available.
At another Hanover property, M7 has agreed early lease extensions to all the existing leases at Tillystrasse 25. As a result, M7 has succeeded in more than doubling the WALT of the property, in less than 18 months.
This asset is part of a retail warehouse scheme, built in 2002/3, with a floor area of around 1,800 sq m. The anchors are Dänische Bettenlager, KiK clothing and a “Hol Ab!” beverage store. In addition to extending its lease, KiK will be fitting out its store with a new sales concept.
Both properties are part of the M7 European Real Estate Investment Partners I (M7 EREIP I) fund portfolio.