Savills advises on sale of IKB headquarters in Dusseldorf

CELLS Property Investors GmbH and an international investor jointly acquired the office complex at Wilhelm-Bötzkes-Straße 1 / Uerdinger Straße 88-92 in Dusseldorf. The property is located in the north of Dusseldorf, very close to Kennedydamm. The 57,600-square-metre office property's former owner, IKB Deutsche Industriebank, uses the building as its corporate headquarters and will remain as the property's main tenant. The parties have agreed not to disclose the sale price. Under an exclusive mandate, the global real estate services provider Savills advised the seller throughout the sale process.

Built in 1997, the office complex consists of two seven-storey buildings containing high-quality office space. The property is located in the Kennedydamm submarket, close to Dusseldorf's city centre, trade fair centre and airport. CELLS have announced plans to establish the property as a multi-tenant office complex and CELLS Property Investors GmbH have prepared a holistic programme of measures to upgrade the building.

The buyer was legally advised by Greenberg Traurig and the seller by Hogan Lovells.