German retail properties on market at €170million

A selection of properties within the Repco portfolio is being marketed for sale at a total of €170m. It includes a portfolio of three large retail warehouses in East Germany, a portfolio of eight DIY stores let on long leases to Hellweg and three individual sales comprising a retail warehouse park, a shopping centre and an office building.

Head of European Funds Investment Jonathan Hallam comments: “The instruction follows exhaustive consultation with agents as to the current investment appetite in Germany. Generally, there are many more potential investors in the market than a year ago but investment criteria remain relatively conservative and pricing is still quite constrained.”

The Repco portfolio was assembled by the Retail Property Investment Trust, formed in Luxembourg in 2005, and its 150 properties are asset managed by Jonathan Hallam and his team based in London and Hamburg.

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