Savills advises on the sale of office asset in ‘Daimler City’ Böblingen

Savills has advised on the sale of an office building in Böblingen, Greater Stuttgart to Ashtrom Properties Germany GmbH.

Ashtrom Properties has purchased the office building on Schickardstraße 30 on a plot comprising circa 21,600sqm of land and 12,100sqm of lettable office space. Widely known as ‘Daimler City,’ Böblingen has housed the Procurement and Quality Control Departments of Daimler Benz AG for over nine years, and they  are currently the sole tenant in this building, having signed a ten year lease in 2017.

Eddie Chasson, Managing Director of Ashtrom Properties Germany: “This asset reflects our continued commitment to long-term property investments in the economically strong regions of Germany. We believe this asset to be an ideal addition to our portfolio!”   

Chris Gillum, Director, Savills European Cross Border Investment, comments: “There is currently a great deal of interest from national and international investors for product in the greater Stuttgart area of Germany, due in particular to the high volume of thriving German industry located in Baden-Württemberg. The building is let to a blue chip tenant on a long term lease, and was perceived by the market to offer an attractive and robust investment opportunity.” 

The seller was advised by Savills and WhiteWater GmbH in Frankfurt