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RNS - Deutsche Konsum REIT-AG acquires retail park 'Cottbus-Center' and two grocery stores in Saxony-Anhalt

Company: Deutsche Konsum REIT-AG Date: 2022-08-10 Language: English Register to download

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 News Details

Corporate | 10 August 2022 07:10

#   

Deutsche Konsum REIT-AG acquires retail park ‘Cottbus-Center’ and two grocery stores in Saxony-Anhalt

DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate  

Deutsche Konsum REIT-AG acquires retail park 'Cottbus-Center' and two grocery stores in Saxony-Anhalt  

10.08.2022 / 07:10 CET/CEST  

The issuer is solely responsible for the content of this announcement.  

**PRESS RELEASE**

**Deutsche Konsum REIT-AG acquires retail park “Cottbus-Center” and two grocery stores in Saxony-Anhalt**

Potsdam, 10 August 2022 – Deutsche Konsum REIT-AG (“DKR”) (ISIN DE000A14KRD3) has acquired the retail park “Cottbus-Center” and two grocery stores in Saxony-Anhalt by notarial deed.

Located on the northern outskirts of Cottbus (Brandenburg), the Cottbus-Center was built in 1992, extensively refurbished from 2017 to 2020 and currently has more than 30,000 sqm of lettable space. The well-established property, which has good connections to public transport, fulfils the key local supply function for the northern part of the city and the surrounding communities and is a popular location for specialist stores and service providers. The anchor tenants of the property are the food retailer Kaufland as well as Rossmann, Deichmann and Woolworth. Other well-known tenants at the location are expert, Adler Modemärkte, KiK, Takko and TEDi.

Overall, the property currently generates an annual rent of more than EUR 2.8 million with a comparatively long WALT of 7.2 years and a vacancy rate of 3.6%. The acquisition yield is approximately 7.8%.

DKR also acquired two fully let grocery stores in Staßfurt and Osterfeld (both in Saxony-Anhalt) for EUR 2.8 million in individual transactions. The tenants of the properties are the food discounters Netto Marken-Discount (Staßfurt) and Diska (Osterfeld), both of which belong to the EDEKA Group. Both properties generate total annualised rental income of TEUR 232 with a WALT of 3.7 years. The acquisition yield is 8.2%. The acquisition of the property in Osterfeld is subject to subsequent formal approval by the seller, which DKR expects shortly.

In the current financial year 2021/2022, DKR has thus acquired 24 non-cyclical and mainly food-anchored retail properties with a rental area of around 102,100 sqm and an annual rent of approximately EUR 8.0 million for around EUR 97.5 million, which corresponds to an average initial yield of 8.2%. The average WALT is 5.6 years with a vacancy rate of around 6.0%.

Taking into account all notarised acquisitions and sales, DKR’s pro forma portfolio comprises a total of 184 properties with a total lettable area of approx. 1.09 million sqm and a balance sheet value of more than EUR 1 billion. The portfolio currently generates an annual rent of EUR 76.5 million.

In addition, DKR is continuously in advanced acquisition processes and expects to be able to announce further acquisitions in the near future.  

**About Deutsche Konsum**

Deutsche Konsum REIT-AG, Broderstorf, is a listed real estate company focusing on German retail properties for everyday goods in established micro-locations. The focus of the Company’s activities is on the acquisition, management and development of local retail properties with the aim of achieving a steady increase in value and the lifting of hidden reserves.

Due to its German REIT status (‘Real Estate Investment Trust’), the Company is exempt from German corporation and trade tax. The shares of the Company are listed on the Prime Standard of Deutsche Börse (ISIN: DE 000A14KRD3) and on the JSE (JSE Limited) (South Africa) by way of a secondary listing.  

**Contact:**

Deutsche Konsum REIT-AG  

Stefanie Frey  

Investor Relations  

E-Mail: sf@deutsche-konsum.de  

Phone: +49 (0) 331 74 00 76 – 533

  

- - -

10.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.dgap.de  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | Deutsche Konsum REIT-AG |
|     | August-Bebel-Str. 68 |
|     | 14482 Potsdam |
|     | Germany |
| Phone: | +49 (0)331 740076517 |
| Fax: | +49 (0)331 740076520 |
| E-mail: | ch@deutsche-konsum.de |
| Internet: | www.deutsche-konsum.de |
| ISIN: | DE000A14KRD3 |
| WKN: | A14KRD |
| Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; JSE Securities Exchange |
| EQS News ID: | 1416515 |

  

|     |     |
| --- | --- |
|     |     |
| End of News | DGAP News Service |

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