Cologne center, near cathedral, commercial building for sale

For sale we have a very nice commercial building HIGH STREET in Cologne - Altstadt-Nord (city center) near the DOM church.
Cologne is and will remain one of the most popular shopping streets. Mainly large fashion chains that can afford the high shop rents are represented here, including H&M, Zara, Peek & Cloppenburg, C&A and Esprit.

Year of construction: 1960

Property: 181 m² and approx. 80 sqm * sqm 30,000 EURO with neighboring property approx. 7.8 million

Commercial units: 1 Usable area: 773 m²

Window type: aluminum / double glazing

Heat dissipation via: warm air shaft

Firing: district heating

Sales booth: vacant by arrangement (object will be handed over empty)

Distance: DOM church and main station = 350 meters

Purchase price indication: EUR 14,000,000 Buyer's commission: 5% plus VAT.
plus 2.5 MILLION neighboring buildings

The building is currently used from the 1st to the 4th floor together with the areas of the neighboring house, which are connected via wall openings. The neighboring house belongs to the church; Here, too, sales talks were held; it is advisable to buy the neighboring house; The upper floors of the neighboring house are currently being used by the main property owner.

Object description
The property is located on the shopping street, prime business location and Cologne's most famous shopping mile.
The polygonal corner plot with an area of ​​181 m² is one hundred percent built on.
The property was built in the early 1960s as a 5-storey construction and also has two basement floors.

The property has a total usable area of ​​773 m².
The sales area on the ground floor and first floor is around 121 m², with the sales area on the ground floor consisting of a converted part (around 43 m²) and a 78 m² shop window in front. The front on the street measures almost 7 meters, the front on the side street measures around 19.5 meters.

The vertical access is via a staircase as well as an elevator, whereby the ground floor and the 1st floor are connected to one another via another flight of stairs.
The building is currently used from the 1st to the 4th floor together with the areas of the neighboring house, which are connected via wall openings. All supply and disposal facilities are located in the sales property itself. In addition, the building is sufficiently accessible even in the event of dismantling.

The building was erected in solid construction. The flat roof was sealed with bitumen, the masonry of the roof structure is not clad. The street-side facades are made of natural stone, and from the 1st floor they are designed with anodized sheets. The brickwork is plastered to the rear. The shop window fronts and the showcases are made of laminated safety glass. The property is heated by district heating and also has 2 air conditioning systems (one for the ground floor, another for the other sales levels).

The property can be handed over free of occupancy after consultation with the owner.

Location / infrastructure

The old town north is the center of the "most beautiful city on the Rhine". As Cologne city, it is the service, retail and tourism center of the region. In the street, the 680m long "main artery" of the old town, there is one shop after the other. Owner-run businesses and fashion chains, electronics stores, retail and offices ensure a frequency of around 9,500 passers-by per hour (Saturdays between 1 p.m. and 4 p.m.).

At the same time, the main train station is the junction of public and national transport, which never stops the flow of visitors. All in all, the old town north meets all three criteria that are placed on a commercial property.

Retail Cologne

The city center of the metropolis on the Rhine is one of the most important retail locations in Germany. The duo from Schildergasse (around 14,500 passers-by / hour) and our street (around 9,500 passers-by / hour) have always stood for Cologne's shopping culture. The tenants benefit in particular from the high purchasing and economic power of the residents, but also from the city's attractiveness for visitors and tourists. The continued strong demand and the associated competition for attractive commercial buildings have pushed prices up further. The net prime yields in Cologne have also continued to decline and are currently around 3.00 to 3.2 percent. The prime rent in Cologne is currently unchanged at around 270 euros / m², with current tenant demand remaining strong and medium-sized spaces and very large shops in particular being sought.
For further inquiries, we are happy to help you.