S IMMO Germany leases out over 5,000 m² for student residence hall
S IMMO Germany GmbH, a subsidiary of the Austrian Sparkassen Immobilien AG, has let out 5,073 m² of space in Berlin’s Lützow Center to a foundation.
The rental agreement is for 15 years, and the space will be used as a student residence hall in the future. The lease was concluded as part of S IMMO Germany GmbH’s asset management activities.
Lützow Center is located in the district of Berlin Mitte near Kurfürstendamm, and the complex comprises a total of roughly 40,000 m². Besides offering offices completely ready for occupancy for small and medium-sized companies, the complex also offers the possibility to adapt spaces to the meet the needs of individual tenants. As part of a comprehensive repositioning, roughly EUR 1.3m were invested in the modernisation of the rental space. During the renovation, a conference area with a fireside lounge and a brainstorming area were added on. These are available to both tenants and external users.
According to Olaf Karkhoff, the country manager of S IMMO Germany, “We were already able to successfully conclude several major leases at Lützow Center in 2010. Our tenants now include renowned institutions such as the Chamber of Tax Consultants Berlin, with 1,000 m², and numerous embassy offices. The lease for an additional 5,000 m² highlights the success of the revitalisation measures, the outstanding quality of the location and our comprehensive expertise in asset management.”