Bristlecone Real Estate (BRE) worked on advising a family office on the best use of a plot of land in downtown Leipzig.
After considering developing the plot and building residential it was decided to dispose of the asset to benefit from particularly attractive market conditions. This decision was reached in the light of BRE’s detailed report, which included the various scenarios and available options, and highlighted their respective pros and cons.
Throughout the sales process BRE assisted the family office step by step. It selected a local agent and negotiated their contract, monitored the agent’s work from marketing materials to selection of the best bidder, managed the due diligence and the advisors (legal, tax and notary in particular), negotiated the sales and purchase agreement and handled the entire process through to completion and signing.
The price obtained was nearly twice above the initial expectation.
CENTRAL-WEST DISTRICT IN LEIPZIG, GERMANY
BNP Paribas Real Estate sells plot in the sought-after Central-West district of Leipzig (Press release | 12 June 2017)
“One of the last empty plots in a residential area near Leipzig’s Walderstrassenviertel has just been sold. A private investor bought the Zentrum West property from a foreign owner, represented by Bristlecone Real Estate, Paris. Bristlecone appointed BNP Paribas Real Estate Leipzig Regional & Residential Investment Team to market the property. A net floor space of approximately 3,000 square meters can be built on the 2.200 square meter plot. A building of up to 5 floors is permitted on this prime location, within walking distance of downtown Leipzig and right next to the Waldstrasse Gastronomy Mile.”