19.07.2016
DEMIRE Deutsche Mittelstand Real Estate AG DE000A0XFSF0
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE with successful lettings in its Stralsund property
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real
Estate/Miscellaneous
DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE with successful lettings
in its Stralsund property
19.07.2016 / 07:32
The issuer is solely responsible for the content of this announcement.
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DEMIRE with successful lettings in its Stralsund property
Frankfurt/Main, July 19, 2016 - DEMIRE Deutsche Mittelstand Real Estate AG
has achieved sustainable lettings for its Stralsund property "Hanse
Center".
The commercial property, located in the Stralsund city centre directly next
to the main train station, consists of roughly 13,000 square metres of
rental space and had an area-based vacancy rate of approx. 30% at the time
of its purchase as part of a portfolio transaction in early 2015. The
property houses commercial and office space, the Intercity Hotel and a
fitness studio.
A new 20-year rental agreement for roughly 1,600 square metres as of May 1,
2017 has now been signed with the local adult education centre - a stable
tenant who will generate considerable traffic to the property. In addition,
a new operator was found for the fitness studio whose rental agreement for
1,430 square metres of space is up for renewal in June 2017. The new
operator will rent the space for 10 years as of July 2017.
Based on these recently signed rental contracts, Hanse-Center's vacancy
rate of 28% as of March 31, 2016 has more than halved to just 12%. At the
same time, the weighted remaining lease term increased from roughly 10
years as at March 31, 2016 to 11.4 years based on new rentals and the early
renewal.
Markus Drews, a DEMIRE Executive Board member responsible for the operating
business commented: "These rental agreements have successfully repositioned
the Hanse-Center property in Stralsund for the long term. The long-distance
coach station planned to open directly next to the property will provide us
even further potential added income."
The Executive Board
Contact information
DEMIRE Deutsche Mittelstand Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Phone: +49 (0) 69-719 189 79 0
Fax: +49 (0) 69-719 189 79 11
Email: [email protected]
Website: www.demire.ag
Investor Relations
GFEI Aktiengesellschaft
Lars Kuhnke
Phone: +49 (0) 511 47 40 23 10
Email: [email protected]
About DEMIRE - First in secondary locations
DEMIRE Deutsche Mittelstand Real Estate AG has commercial real estate
holdings in mid-sized cities and up and coming areas bordering German
metropolitan areas. As at March 31, 2016, DEMIRE held real estate
consisting of 180 properties with a market value of EUR 971 million. As at
the reporting date, contractual rents had been firmly agreed upon in the
amount of EUR 74.2 million (at an occupancy rate of 87.0 %) for a term of
5.5 years.
DEMIRE aims to maintain its corporate organisation as lean as possible,
although it still believes that economies of scale and portfolio
optimisation are best achieved by having its own in-house asset, property
and facility management. This safeguards the Company's business expertise
and, equally important, allows the Company to maintain direct contact with
the customer.
DEMIRE Deutsche Mittelstand Real Estate AG shares (ISIN: DE000A0XFSF0) are
listed in the Prime Standard segment of the German Stock Exchange (Deutsche
Börse) in Frankfurt.
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19.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DEMIRE Deutsche Mittelstand Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Germany
Phone: +49 (0)69 / 719 189 79 0
Fax: +49 (0)69 / 719 189 79 11
E-mail: [email protected]
Internet: www.demire.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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483599 19.07.2016
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