News

10-year lease signed for Uferstadt Business & Science Campus

Doughty Hanson & Co Real Estate ("Doughty Hanson"), one of the largest and most successful European real estate fund managers, announces that it has signed a ten year lease for 9,000 square metres of office space in its Uferstadt Business & Science Campus ("Uferstadt") in Fürth, Germany. Following this agreement, Uferstadt will be 92% occupied.

Uferstadt, which was acquired by Doughty Hanson from Grundig AG in 2001, is a high quality urban office location situated between Fürth and Nuremberg. It comprises nine separate buildings offering approximately 65,000 square metres of modern office space. Since acquisition, Uferstadt has been substantially refurbished and is currently leased by a range of tenants including Lauer-Fischer, ARAG, Atos Origin, SellbyTell, Computec Media, Ratiopharm and Fraunhofer Gesellschaft.

The new tenant, the German subsidiary of a global IT services company, will relocate 550 employees to Uferstadt in mid-November 2008.  Uferstadt offers tenants competitively priced quality office space in green surroundings in the heart of the thriving metropolitan area of Nuremberg. The site also provides excellent transport links to Central Nuremberg and surrounding areas.

Julian Gabriel, a Principal with Doughty Hanson & Co Real Estate, commented: "Securing this lease is a major achievement which brings Uferstadt to near full occupancy and marks a further success for Doughty Hanson's Real Estate Solutions programme, the aim of which is to deliver value-enhancing real estate solutions to major corporations and governments throughout Europe. Uferstadt is a clear example of our ability to successfully identify prime real estate sites in Europe, with the potential for substantial redevelopment, and to create high quality business locations which meet the exacting requirements of tenants."