ARCADIA Investment GmbH has assisted with the sale of Merkurhaus with round 10,000 m² of usable space in Leipzig to Jachimowicz Group Berlin
The Leipzig ARCADIA Investment GmbH has assisted with the sale of the widely known Merkurhaus of the Dutch Investment B.V. from Amsterdam, as part of a portfolio management mandate, to the Jachimowicz Group Berlin, which operate a Berlin family office. The purchase price was tacitly agreed upon by the contractual parties.
The building with its dominant solitary position forms the entrance to the main shopping street, Peterstraße, which is the most-frequented pedestrian zone in Leipzig. This street is found in the immediate vicinity of the new city hall as well as the most important entry and exit points of the city tunnel in the direction of Peterstraße. This connection ensures that the entire southern area of Leipzig is made accessible which has contributed considerably towards the significant increase in pedestrian frequency in this part of Peterstraße. The Merkurhaus with its more than 10,000 square meters of usable space also benefits from the upgrading of the pedestrian zone directly in front of the property.
“The acquisition of Merkurhaus”, explained Alexander Folz, Managing Partner of ARCADIA Investment GmbH, “may have been the last of a few possibilities to secure a property of this magnitude and significance in the best location in Leipzig.” It is normal that the owner’s strategy, which is characterised largely by family offices and foundations, is determined by long holding times so that the acquisition of such a type of property is almost not possible. As it happens, there is still room for optimisation in Merkurhaus so that the property can live up to its position in an A1 retail location. The new owner will now increase this potential through the implementation of a new retail concept where retail spaces are offered over multiple levels. The period needed for this is about six to twelve months according to Mr Folz.
Merkurhaus was built as a textile store in 1937 by Karl Fezer in the New Objectivity style. Its consistent window frontages and shell limestone facade make this building very impressive. From 1969 to the beginning of the 1990s it was the headquarters of the Leipzig School of Commerce (Handelshochschule Leipzig). It has subsequently been used by C&A, Karstadt Sport and more recently by Woolworth until its repositioning.
The ARCADIA Investment Group has focused its specialisation on the development of property used for retail and residential properties as well as car parks and underground car parks throughout the entire Germany. In addition to activities relating to its own portfolio, it has also implemented a host of projects in the framework of joint ventures – amongst others in close collaboration with international companies. One of the company’s core business functions is the optimisation, maintenance and expansion of the property portfolio of family businesses with the utmost care and confidentiality.
Printout free of charge, kindly request a file copy