Harckersheyde 91-93, 2844 Norderstedt

Posted October 2015

Geo Hallam & Sons, retained agents for and on behalf of Miles Fashion GmbH, has negotiated the acquisition of their German HQ and distribution facility at Norderstedt on the outskirts of Hamburg and then subsequently negotiated a sale and leaseback to a Hong Kong based investor.

The premises are situated on the outskirts of Hamburg, comprises an office facility of 1,833 sq m of 5,195 sq ft with the low and high rack warehouse having an area of 11,623 sq m.

Option 1

The purchase, sale and leaseback was an off market deal at a sale price approaching €15,000,000, subject to Miles Fashion GmbH entering into a 10 year lease at €1,250,000 per annum.

Option 2

Geo Hallam & Sons have negotiated a sale and leaseback to a private investor from Hong Kong at an undisclosed price but showing an initial yield to the purchaser of 8.33% after costs.