Schroder Real Estate acquires the historic Bosch Areal in Stuttgart’s city centre
Global asset manager Schroder Real Estate acquires the prominent Bosch-Areal property.
Global asset manager Schroder Real Estate has acquired the prominent Bosch-Areal property – the former Head Quarters of Robert Bosch GmbH - in Stuttgart on behalf of a German client. With an overall transaction volume in excess of € 100 million, this continues the theme for Schroders of investing in large single assets across Europe in recent years. The Stuttgart property is a large mixed use asset and is one of the few remaining landmarks of the industrial heritage in the region. The oldest asset was built in 1900; the latest additions were made in 1999 and 2001. The centrally-located, high profile property provides over 40,000 sq. m. and is home to over 50 tenants.
Sascha Harms, Head of Real Estate Investment, Germany commented:
“The Bosch Areal’s heritage and architectural merits create an ideal mixed use environment that combines working, living, entertainment and convenience retailing in a central location. This asset is hence a relatively defensive component in our investment strategy and given the strength of the Stuttgart leasing market, we are anticipating a highly stable cash-flow with upside potential from active asset management."
“Key considerations around the acquisition were the diversified tenancy structure, the high occupancy rate of ca. 95%, the short distance to the main retail high street and the excellent access by public and private transport. The mixed uses provide this investment with a high degree of diversification in itself. It includes offices, retail, a cinema also an entertainment and leisure component. This is consistent with our theme of investing in central locations where people want to live as well as work.”
Philipp Ellebracht, Head of Real Estate Products Continental Europe, commented:
“Following a range of successful investments in Stockholm, Helsinki, Madrid, Brussels and Paris on behalf of our clients in recent months, this transaction is a continuation of our growth strategy in Europe. It’s an important milestone for us as it not only demonstrates our direct access to individual markets and our ability to succeed in a competitive landscape, but also evidences our client’s confidence in Schroders as a trusted partner.”
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