Turnaround Management Commercial Asset, Leipzig
The Challenge
- 10.000 sqm of office and storage space
- City centre location of Leipzig
- Property was acquired by client from a receivership situation
- Unclear cash flow and rental situation
The Mandate
- To act as crisis manager and reposition the asset for sale
- To develop tenant relations
- To lease vacant space
- To achieve subsequent sale
The Results
- Following years of stagnation, within 18 months:
- All existing tenants were registered and lease contracts cleaned up
- A business center concept for lease up of vacant office space was developed
- Full letting of vacant office space was achieved
- Rental income was increased by 28%
- Sales target was exceeded by 20%
