Schroder Real Estate acquires the historic Bosch Areal in Stuttgart’s city centre
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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Schroder Real Estate
Schroders has managed real estate funds since 1971 and currently has £12.1 billion (€17.1 billion /US$19.1 billion) of gross real estate assets under management as at 30 June 2015.
Most of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.
For further information about Schroders’ property business visit www.schroders.com/realestate
Schroders is a global asset management company £309.9 billion (EUR 437.4 billion/$487.4 billion) under management as at 30 June 2015. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, we operate from 37 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.
Further information about Schroders can be found at www.schroders.com.
Issued by Schroder Real Estate Investment Management Ltd, which is authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.com for our alerting service.
Includes holdings of Real Estate Capital Partners and Schroders Multi-asset Funds in the Real Estate AUM
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