The Third Augusta Syndicate - Investment in Berlin Germany

Medical Centre, 5-7 & 9-10 Schönstrasse, Weissensee, Berlin, Germany

This two-building medical centre (constructed 2002 & 2006), is located directly opposite the Park-Klinik Weissensee, one of Berlin’s main private hospitals. Containing twenty-five medical suites of various floor areas, it has a tenancy of professionals across the medical spectrum. On the ground floor there are a pharmacy, a café and a beauty salon. Situated in such close proximity to the Park-Klinik, the demand for medical suites is high and traffic to the retail units is substantial. Tenancy has consistently been 100%, with a waiting list for access to medical suites.

The combined medical centre has 61 revenue-generating external parking spaces.

Lettable area: 4,157m²

Property Location

• Weissensee suburb of Pankow District, 5km north east of Berlin’s Alexanderplatz (city centre).
• Berlin, capital of Germany, with a population of over 3.8million people.

Tenancy

The properties are leased to a number of tenants in the medical profession, a large pharmacy, a café and a beauty salon. Leases are of varying lengths and terms.

Asset Management Achievements to date

• Construction of medical centre in 9-10 Schönstrasse
• Letting to 100% occupancy of 9-10 Schönstrasse
• Installation of a pay parking system, generating approx. €30,000 per annum
• Letting to 100% occupancy of 5-7 Schönstrasse
• Extension of the lease with the anchor retail (pharmacy) tenant