We are delighted to announce that we have now signed contracts confirming the purchase of a property in Kassel for the Augusta Returns Plus Syndicate.  The Augusta Returns Plus Syndicate is the 11th syndicate successfully launched by Augusta and the 4th in the income generating series.

We have negotiated a keen purchase price for this property which represents a yield of over 12%.  As a result of this competitive price, we are in a position to make annual payments in excess of the projected 5%, at approximately 7% per annum.

This property in comprised mainly of office space amounting to 4,456m2 lettable area.  It is principally let to Deutsche Bank and KKH Allianz, a national health insurer.

The property is situated in Kassel which is a flourishing town located in Hessen in Western Central Germany with a population of 200,000.  The property is located on Kölnische Strasse which is 300 yards from the recognised A-location retail zone of Kassel and equidistant from the local commuter station.  Kölnische Strasse is also situated at the heart of the banking district.

More information and photographs of the property to follow.